{"id":11573,"date":"2022-11-09T07:55:30","date_gmt":"2022-11-09T11:55:30","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=11573"},"modified":"2022-11-09T07:55:30","modified_gmt":"2022-11-09T11:55:30","slug":"bnb-price-prediction-why-this-support-is-the-key-for-fresh-increase","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/11\/09\/bnb-price-prediction-why-this-support-is-the-key-for-fresh-increase\/","title":{"rendered":"BNB Price Prediction: Why This Support Is The Key For Fresh Increase"},"content":{"rendered":"

BNB price (Binance coin) declined heavily after the FTX collapse against the US Dollar. BNB must stay above the $300 support to start a fresh increase.<\/em><\/p>\n

Binance coin price started a major decline from the $360 resistance zone against the US Dollar.
\nThe price is now trading above $300 and the 100 simple moving average (4-hours).
\nThere was a break below a major bullish trend line with support near $338 on the 4-hours chart of the BNB\/USD pair (data source from Binance).
\nThe pair could start a fresh increase if it stays above the $300 support zone.<\/p>\n

Binance Coin Price Revisits Key Support<\/h2>\n

After forming a base above the $280 level, BNB price started a strong increase. The price climbed above the $300 and $335 resistance levels.<\/p>\n

The price gained pace after it broke the $350 barrier and the 100 simple moving average (4-hours). Finally, it spiked above the $360 level and formed a new monthly high at $361. Recently, FTX\u2019s drama and collapse dragged the market lower, including ethereum<\/a>, bitcoin<\/a> and ripple.<\/p>\n

There was a major decline below the $345 and $335 support levels. The price even spiked below the 50% Fib retracement level of the upward move from the $264 swing low to $361 high.<\/p>\n

Besides, there was a break below a major bullish trend line with support near $338 on the 4-hours chart of the BNB\/USD pair. The price is now consolidating above $300 and the 100 simple moving average (4-hours). An initial support is near the $312 level.<\/p>\n

<\/a><\/p>\n

Source: BNBUSD on TradingView.com<\/a><\/p>\n

The first major support is near the $300 level. It is near the 61.8% Fib retracement level of the upward move from the $264 swing low to $361 high. The next major support is near the $286 level. If there is a downside break below the $286 support, there could be an extended decline towards the $260 support.<\/p>\n

Fresh Increase in BNB?<\/h2>\n

If BNB fails remains stable above $312 or $300, it could start a fresh increase. On the upside, the $330 and $338 levels are immediate hurdles.<\/p>\n

The next major resistance is near the $345 level, above which the price is likely to aim a test of the $365 level in the near term. Any more gains might send the price towards the $380 level.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for BNB\/USD is losing pace in the bearish zone.<\/p>\n

4-Hours RSI (Relative Strength Index) \u2013 The RSI for BNB\/USD is currently below the 50 level.<\/p>\n

Major Support Levels \u2013 $312, $300 and $286.<\/p>\n

Major Resistance Levels \u2013 $330, $338 and $365.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

BNB price (Binance coin) declined heavily after the FTX collapse against the US Dollar. BNB must stay above the $300 support to start a fresh increase.<\/em><\/p>\n

Binance coin price started a major decline from the $360 resistance zone against the US Dollar.
\nThe price is now trading above $300 and the 100 simple moving average (4-hours).
\nThere was a break below a major bullish trend line with support near $338 on the 4-hours chart of the BNB\/USD pair (data source from Binance).
\nThe pair could start a fresh increase if it stays above the $300 support zone.<\/p>\n

Binance Coin Price Revisits Key Support<\/h2>\n

After forming a base above the $280 level, BNB price started a strong increase. The price climbed above the $300 and $335 resistance levels.<\/p>\n

The price gained pace after it broke the $350 barrier and the 100 simple moving average (4-hours). Finally, it spiked above the $360 level and formed a new monthly high at $361. Recently, FTX\u2019s drama and collapse dragged the market lower, including ethereum<\/a>, bitcoin<\/a> and ripple.<\/p>\n

There was a major decline below the $345 and $335 support levels. The price even spiked below the 50% Fib retracement level of the upward move from the $264 swing low to $361 high.<\/p>\n

Besides, there was a break below a major bullish trend line with support near $338 on the 4-hours chart of the BNB\/USD pair. The price is now consolidating above $300 and the 100 simple moving average (4-hours). An initial support is near the $312 level.<\/p>\n

<\/a><\/p>\n

Source: BNBUSD on TradingView.com<\/a><\/p>\n

The first major support is near the $300 level. It is near the 61.8% Fib retracement level of the upward move from the $264 swing low to $361 high. The next major support is near the $286 level. If there is a downside break below the $286 support, there could be an extended decline towards the $260 support.<\/p>\n

Fresh Increase in BNB?<\/h2>\n

If BNB fails remains stable above $312 or $300, it could start a fresh increase. On the upside, the $330 and $338 levels are immediate hurdles.<\/p>\n

The next major resistance is near the $345 level, above which the price is likely to aim a test of the $365 level in the near term. Any more gains might send the price towards the $380 level.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for BNB\/USD is losing pace in the bearish zone.<\/p>\n

4-Hours RSI (Relative Strength Index) \u2013 The RSI for BNB\/USD is currently below the 50 level.<\/p>\n

Major Support Levels \u2013 $312, $300 and $286.<\/p>\n

Major Resistance Levels \u2013 $330, $338 and $365.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-11573","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/11573","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=11573"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/11573\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=11573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=11573"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=11573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}