June 19 (Cointime) - Binance coin (BNB) is showing signs of recovery as it rises above $240 against the US Dollar. However, it needs to surpass the $260 and $270 marks to gain bullish momentum.

BNB is currently trading below $260 and the 100 simple moving average (4 hours), but a bullish trend line is forming with support near $242 on the 4-hour chart of the BNB/USD pair.

If BNB fails to clear the $260 resistance, it could start another decline with initial support at the $242 level and the trend line.