BNB/USDT - The Master is Broadcasting
Binance Coin has been in a steady downtrend since November 2021. There have been periods of strong rallies in between, such as in early February and mid-March to the $450 level. Despite these rallies, the price has not been able to break the downtrend.
In the last two months, the downtrend has continued. Two important areas have appeared. The $190-$200 area was one, and the $245-$250 area was the other. The Relative Strength Index (RSI) was at 57 and showed that momentum could slowly turn bullish.
Until the $250 mark is broken, the long-term bias remains bearish. The Stochastic RSI has reached the overbought zone and could form a bearish crossover.
