BNB worth is holding positive factors above the $300 pivot stage. It is exhibiting optimistic indicators and would possibly rally towards the $350 resistance zone.
- BNB worth is shifting larger above the $300 resistance.
- The worth is now buying and selling close to $310 and the 100 easy shifting common (4 hours).
- There is a key declining channel or a bullish flag sample forming with resistance close to $325 on the 4-hour chart of the BNB/USD pair (information supply from Binance).
- The pair would possibly proceed to maneuver up if there’s a clear transfer above $315 and $325
BNB Price Aims Higher
After a significant improve, BNB worth confronted resistance close to the $340 zone. The worth began a draw back correction and just lately examined the $290 zone. A low was fashioned close to $289, and the worth is now trying a recent improve, like Bitcoin and Ethereum.
There was a transfer above the $295 and $300 ranges. The bulls pushed the worth above the 50% Fib retracement stage of the downward transfer from the $332 swing excessive to the $289 low. BNB is now buying and selling close to $310 and the 100 easy shifting common (4 hours).
The present worth motion is optimistic and alerts extra upsides. Immediate resistance is close to the $315 stage. It is near the 61.8% Fib retracement stage of the downward transfer from the $332 swing excessive to the $289 low.
The subsequent resistance sits close to the $322 stage. There can also be a key declining channel or a bullish flag sample forming with resistance close to $325 on the 4-hour chart of the BNB/USD pair. A transparent transfer above the $225 zone may ship the worth additional larger.
Source: BNBUSD on TradingView.com
In the acknowledged case, BNB worth may check $340. A detailed above the $340 resistance would possibly set the tempo for a bigger improve towards the $350 resistance. Any extra positive factors would possibly name for a check of the $375 stage.
Downside Correction?
If BNB fails to clear the $322 resistance, it may begin a draw back correction. Initial help on the draw back is close to the $300 stage.
The subsequent main help is close to the $292 stage. The primary help sits at $288. If there’s a draw back break under the $288 help, the worth may drop towards the $262 help. Any extra losses may provoke a bigger decline towards the $250 stage.
Technical Indicators
4-Hours MACD – The MACD for BNB/USD is gaining tempo within the bullish zone.
4-Hours RSI (Relative Strength Index) – The RSI for BNB/USD is presently above the 50 stage.
Major Support Levels – $300, $292, and $288.
Major Resistance Levels – $315, $322, and $325.
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