Binance Coin continues to show resilience to the latest threats to its business, coming from the UK banking sector. Just a week after TSB Bank suspended its fiat payment gateway for UK clients of Binance, another UK bank has followed suit.
Natwest Group has placed a limit on the daily amount that its clients can send to Binance and other cryptocurrency exchanges. The bank cites its need to protect its clients from investment scams. The bank’s spokesman says the cap was necessary as a high level of crypto scams targeted its retail banking clients.
The Binance exchange was recently blacklisted by the UK financial watchdog, the Financial Conduct Authority (FCA), which says the business had not complied with its licensing requirements.
However, the Binance Coin has been able to shake off the negative press it has witnessed lately and is up by more than 8% on Tuesday.
Technical Outlook for Binance Coin
For any bullish Binance Coin price prediction to hold sway, the BNB/USD pair has to break the 314.94 support, which is the neckline of the double bottom pattern on the daily chart. Furthermore, this move has to coincide with a midline break by the RSI indicator to gain credence. A successful break opens the door towards 357.04 (2 April and 18 June highs), with 379.84 and the 400.00 psychological resistance serving as additional targets to the north.
On the other hand, a failure to uncap 314.94 could lead to a pullback, targeting 278.12. A failed attempt to form a third bottom leads to a breakdown of this area, bringing 250.00 into the picture. A further decline from here targets the price wall at 210.91/222.99 as the only barrier before a price collapse to 184.82 (23 February low).