BNB worth is gaining bullish momentum above the $550 resistance. The worth is exhibiting optimistic indicators and may lengthen its rally above $650.
- BNB worth is up over 15% and it broke the $600 resistance zone.
- The worth is now buying and selling above $580 and the 100 easy shifting common (4 hours).
- There’s a key bullish development line forming with assist at $598 on the 4-hour chart of the BNB/USD pair (knowledge supply from Binance).
- The pair may proceed to rise towards the $650 resistance zone and even $700.
BNB Value Extends Rally
Within the final BNB worth prediction, we mentioned the possibilities of extra beneficial properties above the $500 resistance zone. The worth continued to rise and broke many hurdles close to the $550 stage.
BNB is now outperforming Bitcoin and Ethereum with a transfer above the $580 resistance. It’s up over 10% as we speak and buying and selling above $600. A excessive was fashioned close to $633 and the value is now consolidating beneficial properties. It’s buying and selling above the 23.6% Fib retracement stage of the upward transfer from the $364 swing low to the $633 excessive.
The worth is now buying and selling above $600 and the 100 easy shifting common (4 hours). Fast resistance is close to the $625 stage. The following resistance sits close to the $635 stage. A transparent transfer above the $635 zone may ship the value additional greater.
Supply: BNBUSD on TradingView.com
Within the acknowledged case, BNB worth may check $650. An in depth above the $650 resistance may set the tempo for a bigger improve towards the $700 resistance. Any extra beneficial properties may name for a check of the $780 stage within the coming days.
Dips Restricted?
If BNB fails to clear the $635 resistance, it may begin a draw back correction. Preliminary assist on the draw back is close to the $600 stage and the development line.
The following main assist is close to the $570 stage. The principle assist sits at $500 or the 50% Fib retracement stage of the upward transfer from the $364 swing low to the $633 excessive. If there’s a draw back break beneath the $500 assist, the value may drop towards the $450 assist. Any extra losses may provoke a bigger decline towards the $420 stage.
Technical Indicators
4-Hours MACD – The MACD for BNB/USD is gaining tempo within the bullish zone.
4-Hours RSI (Relative Energy Index) – The RSI for BNB/USD is at present above the 50 stage.
Main Help Ranges – $600, $570, and $500.
Main Resistance Ranges – $635, $650, and $700.
Disclaimer: The article is offered for instructional functions solely. It doesn’t signify the opinions of NewsBTC on whether or not to purchase, promote or maintain any investments and naturally investing carries dangers. You might be suggested to conduct your personal analysis earlier than making any funding choices. Use info offered on this web site totally at your personal danger.
