BNB value is gaining bullish momentum above the $350 resistance. The value appears set for extra beneficial properties above the $400 resistance within the close to time period.
- BNB value is displaying bullish indicators above the $365 resistance degree.
- The value is now buying and selling above $375 and the 100 easy shifting common (4 hours).
- There is a key bullish development line forming with help at $380 on the 4-hour chart of the BNB/USD pair (knowledge supply from Binance).
- The pair might proceed to rise towards the $400 resistance zone and even $422.
BNB Price Extends Increase
In the final BNB price prediction, we mentioned the possibilities of extra beneficial properties above the $365 resistance zone. The bulls did stay lively and have been capable of push the worth above the $375 degree.
BNB outperformed Bitcoin and Ethereum with a transfer above the $380 resistance. A excessive was shaped close to $390 and the worth is now consolidating beneficial properties. It is buying and selling above the 23.6% Fib retracement degree of the upward transfer from the $345 swing low to the $390 excessive.
The value is now buying and selling above $375 and the 100 easy shifting common (4 hours). There can also be a key bullish development line forming with help at $380 on the 4-hour chart of the BNB/USD pair.
Source: BNBUSD on TradingView.com
Immediate resistance is close to the $390 degree. The subsequent resistance sits close to the $392 degree. A transparent transfer above the $392 zone might ship the worth additional greater. In the said case, BNB value might check $400. An in depth above the $400 resistance would possibly set the tempo for a bigger improve towards the $422 resistance. Any extra beneficial properties would possibly name for a check of the $500 degree within the coming weeks.
Dips Supported?
If BNB fails to clear the $390 resistance, it might begin a draw back correction. Initial help on the draw back is close to the $380 degree and the development line.
The subsequent main help is close to the $362 degree or the 61.8% Fib retracement degree of the upward transfer from the $345 swing low to the $390 excessive. The principal help sits at $350. If there’s a draw back break beneath the $350 help, the worth might drop towards the $335 help. Any extra losses might provoke a bigger decline towards the $315 degree.
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 degree.
Major Support Levels – $380, $362, and $350.
Major Resistance Levels – $390, $400, and $422.
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