{"id":25400,"date":"2023-06-14T04:53:28","date_gmt":"2023-06-14T08:53:28","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=25400"},"modified":"2023-06-14T04:53:28","modified_gmt":"2023-06-14T08:53:28","slug":"bnb-price-prediction-recovery-could-fade-above-260","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/06\/14\/bnb-price-prediction-recovery-could-fade-above-260\/","title":{"rendered":"BNB Price Prediction: Recovery Could Fade Above $260"},"content":{"rendered":"

BNB price (Binance coin) is slowly recovering above $245 against the US Dollar. The price might face heavy resistance near $268 and $270.<\/em><\/p>\n

Binance coin price is attempting a recovery wave above $230 against the US Dollar.
\nThe price is now trading below $280 and the 100 simple moving average (4 hours).
\nThere was a break above a key bearish trend line with resistance near $230 on the 4-hour chart of the BNB\/USD pair (data source from Binance).
\nThe pair might face many hurdles near $268 and $270.<\/p>\n

Binance Coin Price Starts Recovery<\/h2>\n

This past week, BNB price saw a major decline<\/a> from well above $280. There was a steady decline below the $250 support zone, putting pressure on Bitcoin<\/a> and Ethereum.<\/p>\n

The price even tested the $220 support zone. A low is formed near $220.6 and the price is now slowly moving higher. There was a move above the $230 resistance. The bulls pushed the price above the 23.6% Fib retracement level of the downward move from the $317.0 swing high to the $220.6 low.<\/p>\n

Besides, there was a break above a key bearish trend line with resistance near $230 on the 4-hour chart of the BNB\/USD pair. However, the pair is still trading below $280 and the 100 simple moving average (4 hours).<\/p>\n\n

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

On the upside, BNB is facing resistance near the $255 level. The next major resistance is near $268. It is close to the 50% Fib retracement level of the downward move from the $317.0 swing high to the $220.6 low. A clear move above the $268 resistance and $270 might start a steady increase. The next major resistance is near the $280 level, above which the price might rise toward the $300 resistance.<\/p>\n

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

If BNB fails to clear the $268 resistance, it could start another decline. Initial support on the downside is near the $240 level.<\/p>\n

The next major support is near the $230 level. If there is a downside break below the $230 support, there could be an extended decline toward the $220 support. Any more losses could send the price toward the $200 support.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for BNB\/USD is gaining pace in the bullish 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 $240, $230, and $220.<\/p>\n

Major Resistance Levels \u2013 $255, $268, and $270.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

BNB price (Binance coin) is slowly recovering above $245 against the US Dollar. The price might face heavy resistance near $268 and $270.<\/em><\/p>\n

Binance coin price is attempting a recovery wave above $230 against the US Dollar.
\nThe price is now trading below $280 and the 100 simple moving average (4 hours).
\nThere was a break above a key bearish trend line with resistance near $230 on the 4-hour chart of the BNB\/USD pair (data source from Binance).
\nThe pair might face many hurdles near $268 and $270.<\/p>\n

Binance Coin Price Starts Recovery<\/h2>\n

This past week, BNB price saw a major decline<\/a> from well above $280. There was a steady decline below the $250 support zone, putting pressure on Bitcoin<\/a> and Ethereum.<\/p>\n

The price even tested the $220 support zone. A low is formed near $220.6 and the price is now slowly moving higher. There was a move above the $230 resistance. The bulls pushed the price above the 23.6% Fib retracement level of the downward move from the $317.0 swing high to the $220.6 low.<\/p>\n

Besides, there was a break above a key bearish trend line with resistance near $230 on the 4-hour chart of the BNB\/USD pair. However, the pair is still trading below $280 and the 100 simple moving average (4 hours).<\/p>\n

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

On the upside, BNB is facing resistance near the $255 level. The next major resistance is near $268. It is close to the 50% Fib retracement level of the downward move from the $317.0 swing high to the $220.6 low. A clear move above the $268 resistance and $270 might start a steady increase. The next major resistance is near the $280 level, above which the price might rise toward the $300 resistance.<\/p>\n

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

If BNB fails to clear the $268 resistance, it could start another decline. Initial support on the downside is near the $240 level.<\/p>\n

The next major support is near the $230 level. If there is a downside break below the $230 support, there could be an extended decline toward the $220 support. Any more losses could send the price toward the $200 support.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for BNB\/USD is gaining pace in the bullish 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 $240, $230, and $220.<\/p>\n

Major Resistance Levels \u2013 $255, $268, and $270.<\/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-25400","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\/25400","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=25400"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/25400\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=25400"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=25400"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=25400"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}