{"id":26210,"date":"2023-07-03T04:52:40","date_gmt":"2023-07-03T08:52:40","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=26210"},"modified":"2023-07-03T04:52:40","modified_gmt":"2023-07-03T08:52:40","slug":"bnb-price-primed-for-rally-and-only-1-thing-is-holding-it-back","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/07\/03\/bnb-price-primed-for-rally-and-only-1-thing-is-holding-it-back\/","title":{"rendered":"BNB Price Primed For Rally And Only 1 Thing Is Holding It Back"},"content":{"rendered":"

BNB price (Binance coin) is recovering above $240 against the US Dollar. The price might gain bullish momentum if it clears $250 and $255.<\/em><\/p>\n

Binance coin price is attempting a recovery wave above $232 against the US Dollar.
\nThe price is now trading below $240 and the 100 simple moving average (4 hours).
\nThere was a break above a major bearish trend line with resistance near $235 on the 4-hour chart of the BNB\/USD pair (data source from Binance).
\nThe pair might gain bullish momentum above $250 and $255.<\/p>\n

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

In the past few days, BNB price saw a major decline below the $250 support. There was a move below the $240 support zone. The price traded as low as $224 and is currently rising, similar to Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was a move above the $232 resistance. The price climbed above the 50% Fib retracement level of the main drop from the $257 swing high to the $224 low. There was also a break above a major bearish trend line with resistance near $235 on the 4-hour chart of the BNB\/USD pair.<\/p>\n

BNB price is now trading below $240 and the 100 simple moving average (4 hours). On the upside, it is facing resistance near the $250 level. It is close to the 76.4% Fib retracement level of the main drop from the $257 swing high to the $224 low.<\/p>\n\n

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

The next major resistance is near $255. A clear move above the $250 resistance and $255 might start a steady increase. The next major resistance is near the $270 level, above which the price might rise toward the $285 resistance.<\/p>\n

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

If BNB fails to clear the $250 resistance, it could start another decline. Initial support on the downside is near the $240 level and the 100 simple moving average (4 hours).<\/p>\n

The next major support is near the $232 level. If there is a downside break below the $232 support, the price could revisit the $225 support. Any more losses could send the price toward the $210 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 $240, $232, and $225.<\/p>\n

Major Resistance Levels \u2013 $250, $255, 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 $250 and $255.<\/em><\/p>\n

Binance coin price is attempting a recovery wave above $232 against the US Dollar.
\nThe price is now trading below $240 and the 100 simple moving average (4 hours).
\nThere was a break above a major bearish trend line with resistance near $235 on the 4-hour chart of the BNB\/USD pair (data source from Binance).
\nThe pair might gain bullish momentum above $250 and $255.<\/p>\n

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

In the past few days, BNB price saw a major decline below the $250 support. There was a move below the $240 support zone. The price traded as low as $224 and is currently rising, similar to Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was a move above the $232 resistance. The price climbed above the 50% Fib retracement level of the main drop from the $257 swing high to the $224 low. There was also a break above a major bearish trend line with resistance near $235 on the 4-hour chart of the BNB\/USD pair.<\/p>\n

BNB price is now trading below $240 and the 100 simple moving average (4 hours). On the upside, it is facing resistance near the $250 level. It is close to the 76.4% Fib retracement level of the main drop from the $257 swing high to the $224 low.<\/p>\n

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

The next major resistance is near $255. A clear move above the $250 resistance and $255 might start a steady increase. The next major resistance is near the $270 level, above which the price might rise toward the $285 resistance.<\/p>\n

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

If BNB fails to clear the $250 resistance, it could start another decline. Initial support on the downside is near the $240 level and the 100 simple moving average (4 hours).<\/p>\n

The next major support is near the $232 level. If there is a downside break below the $232 support, the price could revisit the $225 support. Any more losses could send the price toward the $210 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 $240, $232, and $225.<\/p>\n

Major Resistance Levels \u2013 $250, $255, 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-26210","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\/26210","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=26210"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/26210\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=26210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=26210"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=26210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}