BNB drops to this key confluence area but can bulls inflict a pivot?

Binance Coin [BNB] has dropped to a key support zone, which could offer resistance to sellers. But the FOMC meeting could delay bulls’ re-entry into the market.

struggled to stay above $28k at press time on the first day of the FOMC meeting. As such, BNB could witness more downward pressure until markets firmly price in the FOMC announcement.The support zone of $315 – $320 is a bullish order block on the daily timeframe. The level was a crucial support in late March before it was flipped to resistance on 27 March. It maintained its position as a resistance level for three weeks before it was flipped again to support on 11 April.

It is worth noting that the ascending trendline resistance also aligns with the level and could offer more resistance to sellers. However, an FVG zone between $332 – $334 may offer slight resistance to a likely recovery.

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