BNB Price Gearing For Another Lift-Off to $300: Rally Isn’t Over Yet

BNB worth (Binance coin) discovered help close to $240 in opposition to the US Greenback. BNB rallied above $260 and would possibly intention extra upsides in direction of the $300 degree.

• Binance coin worth began a restoration wave from the $240 help in opposition to the US Greenback.
• The worth is now buying and selling above $265 and the 100 easy transferring common (4-hours).
• There was a break above a serious bearish pattern line with resistance close to $250 on the 4-hours chart of the BNB/USD pair (information supply from Binance).
• The pair might is rising and would possibly climb additional above the $280 resistance zone.

Binance Coin Worth Climbs Increased

This previous week, BNB worth shaped a help base above the $240 degree. There was a powerful restoration wave began above the $250 resistance zone.

There was a break above a serious bearish pattern line with resistance close to $250 on the 4-hours chart of the BNB/USD pair. The pair gained tempo above the $255 and $260 resistance ranges. Yesterday, there was a push above the $270 resistance zone, much like bitcoin and ethereum.

BNB traded as excessive as $283 and is presently consolidating positive aspects. It’s now buying and selling above $265 and the 100 easy transferring common (4-hours). It is usually close to the 23.6% Fib retracement degree of the upward transfer from the $240 swing low to $283 excessive.

Supply: BNBUSD on TradingView.com

On the upside, the bears are defending the $280 and $285 resistance ranges. The subsequent main resistance is close to the $292 degree, above which the worth is more likely to intention a take a look at of the $300 degree within the close to time period. Any extra positive aspects would possibly ship the worth in direction of the $320 degree.

Dips Supported in BNB?

If BNB fails to clear the $280 resistance, it might begin a draw back correction. An preliminary help on the draw back is close to the $265 degree.

The primary main help is close to the $262 degree. It’s close to the 50% Fib retracement degree of the upward transfer from the $240 swing low to $283 excessive. The subsequent main help is close to the $255 degree. If there’s a draw back break beneath the $255 help, there might be an prolonged decline in direction of the $240 help.

Technical Indicators

4-Hours MACD – The MACD for BNB/USD is gaining tempo within the bullish zone.

4-Hours RSI (Relative Power Index) – The RSI for BNB/USD is presently above the 50 degree.

Main Help Ranges – $265, $262 and $255.

Main Resistance Ranges – $280, $285 and $300.