{"id":23266,"date":"2023-05-04T04:52:43","date_gmt":"2023-05-04T08:52:43","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=23266"},"modified":"2023-05-04T04:52:43","modified_gmt":"2023-05-04T08:52:43","slug":"bnb-price-breaking-this-confluence-resistance-could-spark-a-significant-surge","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/05\/04\/bnb-price-breaking-this-confluence-resistance-could-spark-a-significant-surge\/","title":{"rendered":"BNB Price Breaking This Confluence Resistance Could Spark a Significant Surge"},"content":{"rendered":"

BNB price (Binance coin) is consolidating above the $320 support against the US Dollar. It could start a major increase if there is a break above $335.<\/em><\/p>\n

Binance coin price is trading in a range above $320 resistance against the US Dollar.
\nThe price is now trading below $330 and the 100 simple moving average (4 hours).
\nThere is a key bearish trend line forming with resistance near $333 on the 4-hour chart of the BNB\/USD pair (data source from Binance).
\nThe pair could start a fresh increase if it clears $333 and $335.<\/p>\n

Binance Coin Price Holds Support<\/h2>\n

This past week, BNB price attempted an upside break above the $340 resistance. However, the bulls struggled to gain strength and the price corrected gains, similar to Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was a move below the $330 support zone and the price tested $320. A low is formed near $320.8 and the price is now consolidating. It is now trading below $330 and the 100 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $333 on the 4-hour chart of the BNB\/USD pair.<\/p>\n

On the upside, BNB is facing resistance near the $330 level and the 100 simple moving average (4 hours). It is close to the 50% Fib retracement level of the recent decline from the $339 swing high to the $320 low.<\/p>\n

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

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

The next major resistance is near the trend line or $335 or the 76.4% Fib retracement level of the recent decline from the $339 swing high to the $320 low. A clear move above the $335 resistance might spark bullish moves. The next major resistance is near the $340 level, above which the price might rise toward the $350 resistance. Any more gains might send the price toward the $365 level.<\/p>\n

Another Drop in BNB?<\/h2>\n

If BNB fails to clear the $335 resistance, it could continue to move down. Initial support on the downside is near the $320 level.<\/p>\n

The next major support is near the $315 level. If there is a downside break below the $315 support, there could be an extended decline toward the $300 support.<\/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 above the 50 level.<\/p>\n

Major Support Levels \u2013 $320, $315, and $300.<\/p>\n

Major Resistance Levels \u2013 $330, $335, and $345.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

BNB price (Binance coin) is consolidating above the $320 support against the US Dollar. It could start a major increase if there is a break above $335.<\/em><\/p>\n

Binance coin price is trading in a range above $320 resistance against the US Dollar.
\nThe price is now trading below $330 and the 100 simple moving average (4 hours).
\nThere is a key bearish trend line forming with resistance near $333 on the 4-hour chart of the BNB\/USD pair (data source from Binance).
\nThe pair could start a fresh increase if it clears $333 and $335.<\/p>\n

Binance Coin Price Holds Support<\/h2>\n

This past week, BNB price attempted an upside break above the $340 resistance. However, the bulls struggled to gain strength and the price corrected gains, similar to Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was a move below the $330 support zone and the price tested $320. A low is formed near $320.8 and the price is now consolidating. It is now trading below $330 and the 100 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $333 on the 4-hour chart of the BNB\/USD pair.<\/p>\n

On the upside, BNB is facing resistance near the $330 level and the 100 simple moving average (4 hours). It is close to the 50% Fib retracement level of the recent decline from the $339 swing high to the $320 low.<\/p>\n

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

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

The next major resistance is near the trend line or $335 or the 76.4% Fib retracement level of the recent decline from the $339 swing high to the $320 low. A clear move above the $335 resistance might spark bullish moves. The next major resistance is near the $340 level, above which the price might rise toward the $350 resistance. Any more gains might send the price toward the $365 level.<\/p>\n

Another Drop in BNB?<\/h2>\n

If BNB fails to clear the $335 resistance, it could continue to move down. Initial support on the downside is near the $320 level.<\/p>\n

The next major support is near the $315 level. If there is a downside break below the $315 support, there could be an extended decline toward the $300 support.<\/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 above the 50 level.<\/p>\n

Major Support Levels \u2013 $320, $315, and $300.<\/p>\n

Major Resistance Levels \u2013 $330, $335, and $345.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-23266","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\/23266","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=23266"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/23266\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=23266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=23266"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=23266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}