{"id":31950,"date":"2023-11-06T05:52:43","date_gmt":"2023-11-06T09:52:43","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=31950"},"modified":"2023-11-06T05:52:43","modified_gmt":"2023-11-06T09:52:43","slug":"bnb-price-shows-signs-of-life-but-250-is-the-key-to-more-upsides","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/06\/bnb-price-shows-signs-of-life-but-250-is-the-key-to-more-upsides\/","title":{"rendered":"BNB Price Shows Signs of Life But $250 Is The Key To More Upsides"},"content":{"rendered":"

BNB price avoided a major decline below $200 and recovered against the US Dollar. It climbed above $235 and now faces many hurdles near $245 and $250.<\/em><\/p>\n

BNB price is slowly moving higher toward the $250 resistance.
\nThe price is now trading above $235 and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support at $241.5 on the 4-hour chart of the BNB\/USD pair (data source from Binance).
\nThe pair might gain bullish momentum if there is a clear move above $250.<\/p>\n

BNB Price Recovers 10%<\/h2>\n

These past few days, BNB price managed to start a recovery wave above the $220 resistance. The recent positive moves in Bitcoin<\/a>, Ethereum<\/a>, and other altcoins sparked a decent increase in BNB.<\/p>\n

There was a steady move above the $232 and $235 resistance levels. The price even climbed toward the $245 resistance. A high is formed near $245.8 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $222.5 swing low to the $245.8 high.<\/p>\n

BNB is also trading above $235 and the 100 simple moving average (4 hours). Besides, there is a key bullish trend line forming with support at $241.5 on the 4-hour chart of the BNB\/USD pair.<\/p>\n

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

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

If there is a fresh increase, the price could face resistance near the $245 level. The next resistance sits near the $250 level. A clear move above the $250 zone could send the price further higher. In the stated case, BNB price could test $265. A close above the $265 resistance might set the pace for a larger increase toward the $280 resistance.<\/p>\n

Downside Correction?<\/h2>\n

If BNB fails to clear the $245 resistance, it could start a downside correction. Initial support on the downside is near the $240 level and the trend line.<\/p>\n

The next major support is near the $235 level or 50% Fib retracement level of the upward move from the $222.5 swing low to the $245.8 high. If there is a downside break below the $235 support, the price could drop toward the $226 support. Any more losses could initiate a larger decline toward the $220 level.<\/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, $235, and $226.<\/p>\n

Major Resistance Levels \u2013 $245, $250, and $265.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

BNB price avoided a major decline below $200 and recovered against the US Dollar. It climbed above $235 and now faces many hurdles near $245 and $250.<\/em><\/p>\n

BNB price is slowly moving higher toward the $250 resistance.
\nThe price is now trading above $235 and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support at $241.5 on the 4-hour chart of the BNB\/USD pair (data source from Binance).
\nThe pair might gain bullish momentum if there is a clear move above $250.<\/p>\n

BNB Price Recovers 10%<\/h2>\n

These past few days, BNB price managed to start a recovery wave above the $220 resistance. The recent positive moves in Bitcoin<\/a>, Ethereum<\/a>, and other altcoins sparked a decent increase in BNB.<\/p>\n

There was a steady move above the $232 and $235 resistance levels. The price even climbed toward the $245 resistance. A high is formed near $245.8 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $222.5 swing low to the $245.8 high.<\/p>\n

BNB is also trading above $235 and the 100 simple moving average (4 hours). Besides, there is a key bullish trend line forming with support at $241.5 on the 4-hour chart of the BNB\/USD pair.<\/p>\n

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

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

If there is a fresh increase, the price could face resistance near the $245 level. The next resistance sits near the $250 level. A clear move above the $250 zone could send the price further higher. In the stated case, BNB price could test $265. A close above the $265 resistance might set the pace for a larger increase toward the $280 resistance.<\/p>\n

Downside Correction?<\/h2>\n

If BNB fails to clear the $245 resistance, it could start a downside correction. Initial support on the downside is near the $240 level and the trend line.<\/p>\n

The next major support is near the $235 level or 50% Fib retracement level of the upward move from the $222.5 swing low to the $245.8 high. If there is a downside break below the $235 support, the price could drop toward the $226 support. Any more losses could initiate a larger decline toward the $220 level.<\/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, $235, and $226.<\/p>\n

Major Resistance Levels \u2013 $245, $250, and $265.<\/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-31950","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\/31950","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=31950"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31950\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=31950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=31950"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=31950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}