BNB Price Starts Its Journey Toward $500, Why Dips Turned Attractive
BNB worth is gaining bullish momentum above the $350 resistance. The worth appears to be like set for extra good points above the $400 resistance within the close to time period.
- BNB worth is displaying bullish indicators above the $365 resistance degree.
- The worth is now buying and selling above $375 and the 100 easy shifting common (4 hours).
- There’s a key bullish pattern line forming with assist at $380 on the 4-hour chart of the BNB/USD pair (knowledge supply from Binance).
- The pair may proceed to rise towards the $400 resistance zone and even $422.
BNB Value Extends Enhance
Within the final BNB worth prediction, we mentioned the possibilities of extra good points above the $365 resistance zone. The bulls did stay lively and have been capable of push the value above the $375 degree.
BNB outperformed Bitcoin and Ethereum with a transfer above the $380 resistance. A excessive was fashioned close to $390 and the value is now consolidating good points. It’s buying and selling above the 23.6% Fib retracement degree of the upward transfer from the $345 swing low to the $390 excessive.
The worth is now buying and selling above $375 and the 100 easy shifting common (4 hours). There may be additionally a key bullish pattern line forming with assist at $380 on the 4-hour chart of the BNB/USD pair.
Supply: BNBUSD on TradingView.com
Speedy resistance is close to the $390 degree. The following resistance sits close to the $392 degree. A transparent transfer above the $392 zone may ship the value additional greater. Within the said case, BNB worth may check $400. A detailed above the $400 resistance would possibly set the tempo for a bigger improve towards the $422 resistance. Any extra good points would possibly name for a check of the $500 degree within the coming weeks.
Dips Supported?
If BNB fails to clear the $390 resistance, it may begin a draw back correction. Preliminary assist on the draw back is close to the $380 degree and the pattern line.
The following main assist is close to the $362 degree or the 61.8% Fib retracement degree of the upward transfer from the $345 swing low to the $390 excessive. The principle assist sits at $350. If there’s a draw back break beneath the $350 assist, the value may drop towards the $335 assist. Any extra losses may provoke a bigger decline towards the $315 degree.
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 degree.
Main Help Ranges – $380, $362, and $350.
Main Resistance Ranges – $390, $400, and $422.
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