Analysis

Why The Bulls Aim More Gains Above $350

BNB (Binance coin) worth began a recent rally from the $265 assist towards the US Greenback. BNB is buying and selling in a constructive zone and may quickly clear the $350 resistance.

  • Binance coin worth gained tempo above the $300 and $320 resistance ranges towards the US Greenback.
  • The worth is now buying and selling properly above $300 and the 100 easy transferring common (4-hours).
  • There are two main bullish development strains forming with assist close to $320 and $315 on the 4-hours chart of the BNB/USD pair (information supply from Binance).
  • The pair might quickly resume its rally until there’s a transfer beneath the $300 assist zone.

Binance Coin Value Stays In Uptrend

After forming a base above the $265 degree, BNB worth began a robust enhance. The bulls took management, leading to a surge above the $280 and $285 resistance ranges.

The worth gained tempo after it broke the $300 barrier and the 100 easy transferring common (4-hours). Lastly, it spiked above the $335 degree and shaped a brand new month-to-month excessive at $337. Not too long ago, there was a minor draw back correction beneath the $330 degree, much like bitcoin and ethereum.

The worth examined the 23.6% Fib retracement degree of the upward transfer from the $263 swing low to $337 excessive. An preliminary assist is close to the $320 degree. There are additionally two main bullish development strains forming with assist close to $320 and $315 on the 4-hours chart of the BNB/USD pair.

Binance Coin Price

Supply: BNBUSD on TradingView.com

The primary main assist is close to the $312 degree. The following main assist is close to the $300 degree or the 50% Fib retracement degree of the upward transfer from the $263 swing low to $337 excessive. If there’s a draw back break beneath the $300 assist, there could possibly be an prolonged decline in direction of the $280 assist.

Extra Upsides in BNB?

If BNB fails stays secure above $320 or $300, it might begin a recent enhance. On the upside, the $328 and $330 ranges are quick hurdles.

The following main resistance is close to the $335 degree, above which the value is more likely to intention a take a look at of the $350 degree within the close to time period. Any extra beneficial properties may ship the value in direction of the $400 degree.

Technical Indicators

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

4-Hours RSI (Relative Power Index) – The RSI for BNB/USD is presently properly above the 60 degree.

Main Help Ranges – $320, $312 and $300.

Main Resistance Ranges – $330, $335 and $350.

Subscribe to our mailing list to receive new updates and special offers

We don’t spam! Read our [link]privacy policy[/link] for more info.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
You have not selected any currencies to display