{"id":32866,"date":"2023-11-21T04:53:46","date_gmt":"2023-11-21T08:53:46","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=32866"},"modified":"2023-11-21T04:53:46","modified_gmt":"2023-11-21T08:53:46","slug":"bnb-price-momentum-reignites-why-bulls-could-aim-for-15-rally","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/21\/bnb-price-momentum-reignites-why-bulls-could-aim-for-15-rally\/","title":{"rendered":"BNB Price Momentum Reignites \u2013 Why Bulls Could Aim For 15% Rally"},"content":{"rendered":"

BNB price gained momentum and climbed above the $250 resistance. It is up over 5% and the bulls could soon aim for a move toward the $300 level.<\/em><\/p>\n

BNB price is moving higher above the $250 resistance.
\nThe price is now trading above $255 and the 100 simple moving average (4 hours).
\nThere is a major bullish trend line forming with support at $253.5 on the 4-hour chart of the BNB\/USD pair (data source from Binance).
\nThe pair might continue to move up if there is a clear move above $268.<\/p>\n

BNB Price Jumps 8%<\/h2>\n

These past few days, BNB price remained stable above the $240 resistance. The bulls stepped in and were able to clear a major hurdle at $250. It opened the doors for more upsides above $255.<\/p>\n

BNB gained traction and climbed above $260. It is up over 5% and outperforming both Bitcoin<\/a> and Ethereum<\/a>. A new multi-week high is formed near $267.9 and the price is now consolidating gains. It is above the 23.6% Fib retracement level of the upward move from the $238.9 swing low to the $267.9 high.<\/p>\n

BNB is also trading above $255 and the 100 simple moving average (4 hours). Besides, there is a major bullish trend line forming with support at $253.5 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 $265 level. The next resistance sits near the $268 level. A clear move above the $268 zone could send the price further higher. In the stated case, BNB price could test $280. A close above the $280 resistance might set the pace for a larger increase toward the $300 resistance.<\/p>\n

Downside Correction?<\/h2>\n

If BNB fails to clear the $265 resistance, it could start a downside correction. Initial support on the downside is near the $260 level. The next major support is near the $255 level.<\/p>\n

The main support sits at $253 or the trend line. It is close to the 50% Fib retracement level of the upward move from the $238.9 swing low to the $267.9 high. If there is a downside break below the $253 support, the price could drop toward the $245 support. Any more losses could initiate a larger decline toward the $238 level.<\/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 $260, $255, and $253.<\/p>\n

Major Resistance Levels \u2013 $265, $268, and $280.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

BNB price gained momentum and climbed above the $250 resistance. It is up over 5% and the bulls could soon aim for a move toward the $300 level.<\/em><\/p>\n

BNB price is moving higher above the $250 resistance.
\nThe price is now trading above $255 and the 100 simple moving average (4 hours).
\nThere is a major bullish trend line forming with support at $253.5 on the 4-hour chart of the BNB\/USD pair (data source from Binance).
\nThe pair might continue to move up if there is a clear move above $268.<\/p>\n

BNB Price Jumps 8%<\/h2>\n

These past few days, BNB price remained stable above the $240 resistance. The bulls stepped in and were able to clear a major hurdle at $250. It opened the doors for more upsides above $255.<\/p>\n

BNB gained traction and climbed above $260. It is up over 5% and outperforming both Bitcoin<\/a> and Ethereum<\/a>. A new multi-week high is formed near $267.9 and the price is now consolidating gains. It is above the 23.6% Fib retracement level of the upward move from the $238.9 swing low to the $267.9 high.<\/p>\n

BNB is also trading above $255 and the 100 simple moving average (4 hours). Besides, there is a major bullish trend line forming with support at $253.5 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 $265 level. The next resistance sits near the $268 level. A clear move above the $268 zone could send the price further higher. In the stated case, BNB price could test $280. A close above the $280 resistance might set the pace for a larger increase toward the $300 resistance.<\/p>\n

Downside Correction?<\/h2>\n

If BNB fails to clear the $265 resistance, it could start a downside correction. Initial support on the downside is near the $260 level. The next major support is near the $255 level.<\/p>\n

The main support sits at $253 or the trend line. It is close to the 50% Fib retracement level of the upward move from the $238.9 swing low to the $267.9 high. If there is a downside break below the $253 support, the price could drop toward the $245 support. Any more losses could initiate a larger decline toward the $238 level.<\/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 $260, $255, and $253.<\/p>\n

Major Resistance Levels \u2013 $265, $268, and $280.<\/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-32866","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\/32866","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=32866"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32866\/revisions"}],"predecessor-version":[{"id":32874,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32866\/revisions\/32874"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=32866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=32866"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=32866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}