BNB Price Momentum Reignites – Why Bulls Could Aim For 15% Rally

BNB worth gained momentum and climbed above the $250 resistance. It’s up over 5% and the bulls may quickly intention for a transfer towards the $300 stage.

• BNB worth is shifting increased above the $250 resistance.
• The value is now buying and selling above $255 and the 100 easy shifting common (4 hours).
• There’s a main bullish development line forming with help at $253.5 on the 4-hour chart of the BNB/USD pair (knowledge supply from Binance).
• The pair would possibly proceed to maneuver up if there’s a clear transfer above $268.

BNB Worth Jumps 8%

These previous few days, BNB worth remained steady above the $240 resistance. The bulls stepped in and had been in a position to clear a significant hurdle at $250. It opened the doorways for extra upsides above $255.

BNB gained traction and climbed above $260. It’s up over 5% and outperforming each Bitcoin and Ethereum. A brand new multi-week excessive is shaped close to $267.9 and the worth is now consolidating positive aspects. It’s above the 23.6% Fib retracement stage of the upward transfer from the $238.9 swing low to the $267.9 excessive.

BNB can also be buying and selling above $255 and the 100 easy shifting common (4 hours). Apart from, there’s a main bullish development line forming with help at $253.5 on the 4-hour chart of the BNB/USD pair.

Supply: BNBUSD on TradingView.com

If there’s a recent enhance, the worth may face resistance close to the $265 stage. The following resistance sits close to the $268 stage. A transparent transfer above the $268 zone may ship the worth additional increased. Within the acknowledged case, BNB worth may take a look at $280. An in depth above the $280 resistance would possibly set the tempo for a bigger enhance towards the $300 resistance.

Draw back Correction?

If BNB fails to clear the $265 resistance, it may begin a draw back correction. Preliminary help on the draw back is close to the $260 stage. The following main help is close to the $255 stage.

The principle help sits at $253 or the development line. It’s near the 50% Fib retracement stage of the upward transfer from the $238.9 swing low to the $267.9 excessive. If there’s a draw back break under the $253 help, the worth may drop towards the $245 help. Any extra losses may provoke a bigger decline towards the $238 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 the moment above the 50 stage.

Main Help Ranges – $260, $255, and $253.

Main Resistance Ranges – $265, $268, and $280.