coingape.com
- BNB falls -20% the last week
- Price is being held by major support of $257
- 250 MA has continued to hold price down
Binance coin has followed the majority of the crypto market to a tee the last couple months. As Bitcoin broke its major support zone of $30,000, BNB has tumbled nearly $70 to its June candle low. BNB has much utility within the Binance platform but unfortunately it has fallen victim to the general market trends. Considering the explosive run BNB had experienced throughout the last year, this type of correction is very much needed to continue growth.