{"id":28589,"date":"2023-08-23T04:53:07","date_gmt":"2023-08-23T08:53:07","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=28589"},"modified":"2023-08-23T04:53:07","modified_gmt":"2023-08-23T08:53:07","slug":"bnb-price-prediction-why-bulls-could-aim-recovery-to-230","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/08\/23\/bnb-price-prediction-why-bulls-could-aim-recovery-to-230\/","title":{"rendered":"BNB Price Prediction: Why Bulls Could Aim Recovery To $230"},"content":{"rendered":"

BNB price (Binance coin) is attempting a recovery from $202 against the US Dollar. The price could start a strong increase if it clears the $215 resistance level.<\/em><\/p>\n

Binance coin price is slowly moving higher from the $202 zone against the US Dollar.
\nThe price is now trading below $230 and the 100 simple moving average (4 hours).
\nThere was a break above a key bearish trend line with resistance near $208 on the 4-hour chart of the BNB\/USD pair (data source from Binance).
\nThe pair might gain bullish momentum above $215 and $216.<\/p>\n

Binance Coin Price Eyes Fresh Increase<\/h2>\n

In the past few days, BNB price saw a major decline from well above the $235 level. The price declined below the $225 and $220 levels to enter a bearish zone, similar to Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

It even spiked below the $212 support. It tested the $202 zone and recently started an upside correction. There was a move above the $210 level. Besides, there was a break above a key bearish trend line with resistance near $208 on the 4-hour chart of the BNB\/USD pair.<\/p>\n

However, BNB price is still trading well below $230 and the 100 simple moving average (4 hours). On the upside, it is facing resistance near the $214 level. It is close to the 23.6% Fib retracement level of the downward move from the $248 swing high to the $203 low.<\/p>\n\n

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

A clear move above the $214 zone could send the price further higher. The next major resistance is near $225 or the 50% Fib retracement level of the downward move from the $248 swing high to the $203 low. A close above the $225 resistance might increase the chances of a push above the $230 resistance.<\/p>\n

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

If BNB fails to clear the $214 resistance, it could start another decline. Initial support on the downside is near the $208 level.<\/p>\n

The next major support is near the $202 level. If there is a downside break below the $202 support, the price could drop toward the $200 support. Any more losses could send the price toward the $185 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 near the 50 level.<\/p>\n

Major Support Levels \u2013 $208, $202, and $200.<\/p>\n

Major Resistance Levels \u2013 $214, $225, and $230.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

BNB price (Binance coin) is attempting a recovery from $202 against the US Dollar. The price could start a strong increase if it clears the $215 resistance level.<\/em><\/p>\n

Binance coin price is slowly moving higher from the $202 zone against the US Dollar.
\nThe price is now trading below $230 and the 100 simple moving average (4 hours).
\nThere was a break above a key bearish trend line with resistance near $208 on the 4-hour chart of the BNB\/USD pair (data source from Binance).
\nThe pair might gain bullish momentum above $215 and $216.<\/p>\n

Binance Coin Price Eyes Fresh Increase<\/h2>\n

In the past few days, BNB price saw a major decline from well above the $235 level. The price declined below the $225 and $220 levels to enter a bearish zone, similar to Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

It even spiked below the $212 support. It tested the $202 zone and recently started an upside correction. There was a move above the $210 level. Besides, there was a break above a key bearish trend line with resistance near $208 on the 4-hour chart of the BNB\/USD pair.<\/p>\n

However, BNB price is still trading well below $230 and the 100 simple moving average (4 hours). On the upside, it is facing resistance near the $214 level. It is close to the 23.6% Fib retracement level of the downward move from the $248 swing high to the $203 low.<\/p>\n

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

A clear move above the $214 zone could send the price further higher. The next major resistance is near $225 or the 50% Fib retracement level of the downward move from the $248 swing high to the $203 low. A close above the $225 resistance might increase the chances of a push above the $230 resistance.<\/p>\n

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

If BNB fails to clear the $214 resistance, it could start another decline. Initial support on the downside is near the $208 level.<\/p>\n

The next major support is near the $202 level. If there is a downside break below the $202 support, the price could drop toward the $200 support. Any more losses could send the price toward the $185 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 near the 50 level.<\/p>\n

Major Support Levels \u2013 $208, $202, and $200.<\/p>\n

Major Resistance Levels \u2013 $214, $225, and $230.<\/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-28589","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\/28589","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=28589"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/28589\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=28589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=28589"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=28589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}