BNB/USDT
The bulls pushed Binance Coin (BNB) above the 50-day simple moving average ($310) on July 29 but they could not challenge the overhead resistance at $340. This suggests that buying dries up at higher levels.
BNB/USDT daily chart. Source: TradingViewThe bears will now try to take advantage of the lack of demand to pull the price below the 20-day EMA ($305). A break of this support could result in a drop to the trendline and next to the July 20 low at $254.52.
On the contrary, if the price rebounds off the 20-day EMA, it will suggest buying on dips. The bulls will then make one more attempt to clear the overhead resistance at $340. If they pull it off, the BNB/USDT pair could rise to $379 and next to $400.