{"id":25593,"date":"2023-06-19T05:53:19","date_gmt":"2023-06-19T09:53:19","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=25593"},"modified":"2023-06-19T05:53:19","modified_gmt":"2023-06-19T09:53:19","slug":"bnb-price-prediction-fresh-increase-possible-above-100-sma","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/06\/19\/bnb-price-prediction-fresh-increase-possible-above-100-sma\/","title":{"rendered":"BNB Price Prediction: Fresh Increase Possible Above 100 SMA"},"content":{"rendered":"

BNB price (Binance coin) is recovering above $240 against the US Dollar. The price might gain bullish momentum if it clears $260 and $270.<\/em><\/p>\n

Binance coin price is attempting a recovery wave above $240 against the US Dollar.
\nThe price is now trading below $260 and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support near $242 on the 4-hour chart of the BNB\/USD pair (data source from Binance).
\nThe pair might struggle to gain bullish momentum above $260 and $270.<\/p>\n

Binance Coin Price Faces Resistance<\/h2>\n

In the past few days, BNB price saw a major decline<\/a> below the $260 support. There was a move below the $250 support zone, sparking bearish moves in Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

The price even dived toward the $220 support. A low is formed near $220.6 and the price is now attempting a recovery wave. There was a move above the $240 resistance. The price climbed above the 23.6% Fib retracement level of the key decline from the $317.0 swing high to the $220.6 low.<\/p>\n

The price is now consolidating below $260 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $242 on the 4-hour chart of the BNB\/USD pair.<\/p>\n

On the upside, BNB is facing resistance near the $254 level. The next major resistance is near $260 and the 100 simple moving average (4 hours). The main resistance is now forming near $268 and the 50% Fib retracement level of the key decline from the $317.0 swing high to the $220.6 low.<\/p>\n\n

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

A clear move above the $260 resistance and $268 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

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

If BNB fails to clear the $260 resistance, it could start another decline. Initial support on the downside is near the $242 level and the trend line.<\/p>\n

The next major support is near the $230 level. If there is a downside break below the $230 support, the price could revisit 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 losing 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 $242, $230, and $220.<\/p>\n

Major Resistance Levels \u2013 $260, $268, and $270.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

BNB price (Binance coin) is recovering above $240 against the US Dollar. The price might gain bullish momentum if it clears $260 and $270.<\/em><\/p>\n

Binance coin price is attempting a recovery wave above $240 against the US Dollar.
\nThe price is now trading below $260 and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support near $242 on the 4-hour chart of the BNB\/USD pair (data source from Binance).
\nThe pair might struggle to gain bullish momentum above $260 and $270.<\/p>\n

Binance Coin Price Faces Resistance<\/h2>\n

In the past few days, BNB price saw a major decline<\/a> below the $260 support. There was a move below the $250 support zone, sparking bearish moves in Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

The price even dived toward the $220 support. A low is formed near $220.6 and the price is now attempting a recovery wave. There was a move above the $240 resistance. The price climbed above the 23.6% Fib retracement level of the key decline from the $317.0 swing high to the $220.6 low.<\/p>\n

The price is now consolidating below $260 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $242 on the 4-hour chart of the BNB\/USD pair.<\/p>\n

On the upside, BNB is facing resistance near the $254 level. The next major resistance is near $260 and the 100 simple moving average (4 hours). The main resistance is now forming near $268 and the 50% Fib retracement level of the key decline from the $317.0 swing high to the $220.6 low.<\/p>\n

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

A clear move above the $260 resistance and $268 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

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

If BNB fails to clear the $260 resistance, it could start another decline. Initial support on the downside is near the $242 level and the trend line.<\/p>\n

The next major support is near the $230 level. If there is a downside break below the $230 support, the price could revisit 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 losing 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 $242, $230, and $220.<\/p>\n

Major Resistance Levels \u2013 $260, $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-25593","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\/25593","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=25593"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/25593\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=25593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=25593"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=25593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}