In the last 2-3 days of the trading session, Binance coin - BNB experienced one of the sharpest declines reaching $187 from the record high at $348 (USDT).
Though BNB experienced more than 44% pullback compared to its peers (top 10 coins by market cap), it is among the very few to still hold its ground. It's currently trading above the 4-hour 100-SMA, a support line which most of the other top coins (except Cardano) have failed to hold.
Bulls may soon attempt to break above the resistance trend line with initial resistance near $247, which is also the 50% retracement level from the recent swing high ($201) to swing low ($187). The hourly 100-SMA also indicates initial resistance near the $245 zone in the upcoming trading sessions.
A clear break above the 245$ could push the BNB USDT price higher and soon test the next resistance level at $265 and $280. A lot also depends on how Bitcoin USD price performs in the coming sessions.
If BNB USDT price breaches the support trend line (below $215 in the following sessions), the price could correct lower with initial support at $195. The 4-hour 100 simple moving average is also nearing $195. A breach below this key support level could pull down the BNB prices to $165.