With great ease and without difficulties, the BNB coin price reached the first critical point of $430. In the previous BNB technical analysis, <a href="https://www.cryptoknowmics.com/news/bnb-technical-analysis-buyers-one-step-before-the-rally-start/">we predicted</a> the test of this mark and the beginning of local problems for buyers after that.

<img class="alignnone" src="https://s3.tradingview.com/snapshots/y/ysmNDQea.png" alt="BNB" width="1380" height="809" />

<a href="https://www.tradingview.com/x/ysmNDQea/">https://www.tradingview.com/x/ysmNDQea/</a>

Last week's candle showed a growth of 20% and closed with a full-body without a large pin. This fact shows us the intentions of buyers and their willingness to continue to grow. However, the trading volumes, which are too low to turn the situation on the BNB market, are a bit alarming.

Analyzing the <a href="https://www.cryptoknowmics.com/news/crypto-price-analysis-btc-eth-ada-doge-bnb-ltc-uni-xrp-bch-dot/">trading volumes in late May</a>, when buyers were building a local wave of rebound, we now see several times less strength of buyers. At the moment, the local correction of the BNB market has begun. It is important for buyers to keep the local range of $385-$390:

<img src="https://s3.tradingview.com/snapshots/b/Bgnlm9jf.png" alt="TradingView Chart" />
<a href="https://www.tradingview.com/x/Bgnlm9jf/">https://www.tradingview.com/x/Bgnlm9jf/</a>
<h2>BNB Technical Analysis on a Daily Timeframe</h2>
For the last three days, the BNB token market has been tested for the strength of buyers in this range. So far, the situation looks to continue the growth trend with the next target of $470-$480. On the daily timeframe, thousands of buyers are within the norm. Trading volumes are average and do not threaten buyers with loss of control over the range of $385-$390.

Bitcoin dominance remains low, and the Bitcoin price smoothly corrects and does not put much pressure on other coins. A favorable time for the growth of altcoins including BNB crypto remains. And by the end of August, there is a high probability to see a new local growth wave of the crypto market.

In case of loss of control by buyers in the range of $385-$390, we will expect the price to fall to $320-$330. In this range, there will be a great chance to buy BNB with low risks and the first serious target of $470.
<h2>The BNBBTC Price Is in the Consolidation Wedge</h2>
The BNBBTC chart makes us think about such an alternative scenario:

<img src="https://s3.tradingview.com/snapshots/k/K3ntIjsX.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/K3ntIjsX/">https://www.tradingview.com/x/K3ntIjsX/</a>

As we can see, the price reached our target of the previous technical analysis of the BNB coin and tested the upper trend line of the wedge. At the moment, the situation looks exactly like a breakdown of the wedge up. Though, while the price is within such consolidation, we should be prepared for a negative scenario. In any case, the BNBBTC chart indicates the completion of the correction in the BTC market and the formation of a new growth wave in the medium term.

BNB‌ Technical ‌Analysis‌: ‌$385-$390‌ Should Be Kept ‌At Any‌ ‌Cost ‌

As we can see, the price reached our target of the previous technical analysis of the BNB coin and tested the upper trend line of the wedge.

Peter came to know about cryptocurrencies in 2017 and was instantly enamoured by their massive potential. As he gained more insights about the crypto market, he began writing about it. Peter's daily activity is analysis and forecasting, studying the price movements probabilities, and trying to understand the market inside. He is glad to witness such a phenomenon as cryptocurrency and decentralized finance, and to participate in it.

BNB‌ Technical ‌Analysis‌: ‌$385-$390‌ Should Be Kept ‌At Any‌ ‌Cost ‌

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