The price of Binance coins started a new rally above the USD 280 resistance against the USDT. The NBB is now trading above $ 300 and could continue to climb towards $ 350 or $ 400.
- The price of Binance coins started a new rally above the $ 260 and $ 280 resistance levels against the USDT.
- The price is now trading well above $ 280 and the simple moving average of 100 (4 hours).
- A major bullish trendline is forming on the 4-hour chart of the BNB / USDT pair (data source from Binance) with support near USD 290.
- The pair is likely to resume its uptrend above the USD 315 and USD 320 resistance levels in the near future.
Binance Coin Price Breaks $ 300
After the Binance coin formed a base above $ 220, it rose again. The NBB broke the main resistance of $ 250 and recently crossed the $ 275 pivot level.
The bulls were able to take the price above the $ 280 mark and the simple moving average of 100 (4 hours). As a result, there was a pause above the $ 300 level. The price hit a new monthly high of $ 317 and is currently correcting gains.
It has surpassed the $ 305 support level. There was also a break below the Fib retracement level of 23.6% in the move up from the low of $ 269 to the high of $ 317.
Source: BNBUSDT on TradingView.com
On the flip side, the first major support is near the $ 290 level. It is close to the 50% Fib retracement level of the move up from the low of $ 269 to the high of $ 317. A major bullish trendline is also forming on the 4-hour chart of the BNB / USDT pair with support near USD 290.
On the upside, the bulls face resistance near the USD 315 and USD 320 levels. The next major resistance is near the $ 340 level, above which the price is likely to hit a new all-time high in the near future.
Dips in BNB supported?
If the BNB stops rising above $ 315 and $ 320, a new downside correction could occur. The first major support is near the $ 295 level.
The next big support is near the USD 290 level and the trend line. If there is a downside break below trendline support, it could see a decline towards the USD 280 support zone.
4 Hour MACD – The MACD for BNB / USDT is picking up pace in the bullish zone.
4-hour RSI (Relative Strength Index) – The RSI for BNB / USDT is currently well above the 50 level.
Major support levels – $ 295, $ 290, and $ 280.
Main Resistance Levels – $ 315, $ 320, and $ 340.