BNB Price Clears $250 and Could Rally 10% To Retest This Key Resistance
20 Dicembre 2023 - 6:28AM
NEWSBTC
BNB price gained momentum and climbed above the $250 resistance. It
is showing positive signs and might rally toward the $272
resistance zone. BNB price is moving higher above the $250
resistance. The price is now trading above $250 and the 100 simple
moving average (4 hours). There was a break above a key bearish
trend line with resistance near $252 on the 4-hour chart of the
BNB/USD pair (data source from Binance). The pair might continue to
move up if there is a clear move above $258. BNB Price Regains
Traction These past few days, BNB price formed a base above the
$230 level. The price started a decent increase above the $240 and
$242 resistance levels. In the past two sessions, it even
outperformed Ethereum and Bitcoin. BNB broke the 76.4% Fib
retracement level of the downward move from the $257.1 swing high
to the $231.9 low. There was also a break above a key bearish trend
line with resistance near $252 on the 4-hour chart of the BNB/USD
pair. It is now trading above $250 and the 100 simple moving
average (4 hours). The current price action is positive and
signaling more upsides above the $258 resistance zone. The next
resistance sits near the $262 level. A clear move above the $262
zone could send the price further higher. In the stated case, BNB
price could test $272. It is close to the 1.618 Fib extension level
of the downward move from the $257.1 swing high to the $231.9 low.
Source: BNBUSD on TradingView.com A close above the $272 resistance
might set the pace for a larger increase toward the $285
resistance. Any more gains might call for a test of the $300 level.
Downside Correction? If BNB fails to clear the $258 resistance, it
could start a downside correction. Initial support on the downside
is near the $248 level. The next major support is near the $242
level. The main support sits at $232. If there is a downside break
below the $232 support, the price could drop toward the $222
support. Any more losses could initiate a larger decline toward the
$205 level. Technical Indicators 4-Hours MACD – The MACD for
BNB/USD is gaining pace in the bullish zone. 4-Hours RSI (Relative
Strength Index) – The RSI for BNB/USD is currently above the 50
level. Major Support Levels – $248, $242, and $232. Major
Resistance Levels – $258, $272, and $285.
Grafico Azioni Binance Coin (COIN:BNBUSD)
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Da Giu 2024 a Lug 2024
Grafico Azioni Binance Coin (COIN:BNBUSD)
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