BNB Price Zooms 10%, Here Are Next Possible Barriers For Bulls
08 März 2024 - 8:28AM
NEWSBTC
BNB price is gaining bullish momentum above the $450 resistance.
The price is signaling a strong uptrend and might soon surpass the
$500 resistance. BNB price is showing bullish signs above the $450
resistance level. The price is now trading above $465 and the 100
simple moving average (4 hours). There was a break above a
connecting trend line with resistance at $430 on the 4-hour chart
of the BNB/USD pair (data source from Binance). The pair could
continue to rise toward the $500 resistance zone or even $520. BNB
Price Extends Rally In the last BNB price prediction, we discussed
the chances of more gains above the $400 resistance zone. The bulls
did remain active and were able to push the price above the $400
level. BNB is now outperforming Bitcoin and Ethereum with a move
above the $450 resistance. There was a break above a connecting
trend line with resistance at $430 on the 4-hour chart of the
BNB/USD pair. It is up over 10% today and trading above $470. A
high was formed near $478 and the price is now consolidating gains.
It is trading above the 23.6% Fib retracement level of the upward
move from the $364 swing low to the $478 high. The price is now
trading above $465 and the 100 simple moving average (4 hours).
Immediate resistance is near the $475 level. The next resistance
sits near the $488 level. A clear move above the $488 zone could
send the price further higher. Source: BNBUSD on TradingView.com In
the stated case, BNB price could test $500. A close above the $500
resistance might set the pace for a larger increase toward the $520
resistance. Any more gains might call for a test of the $542 level
in the coming days. Dips Supported? If BNB fails to clear the $475
resistance, it could start a downside correction. Initial support
on the downside is near the $4620 level. The next major support is
near the $450 level. The main support sits at $420 or the 50% Fib
retracement level of the upward move from the $364 swing low to the
$478 high. If there is a downside break below the $420 support, the
price could drop toward the $400 support. Any more losses could
initiate a larger decline toward the $380 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 –
$460, $450, and $420. Major Resistance Levels – $475, $500, and
$520.
Binance Coin (COIN:BNBUSD)
Historical Stock Chart
Von Mär 2024 bis Apr 2024
Binance Coin (COIN:BNBUSD)
Historical Stock Chart
Von Apr 2023 bis Apr 2024