{"id":34330,"date":"2023-12-20T05:53:18","date_gmt":"2023-12-20T09:53:18","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=34330"},"modified":"2023-12-20T05:53:18","modified_gmt":"2023-12-20T09:53:18","slug":"bnb-price-clears-250-and-could-rally-10-to-retest-this-key-resistance","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/12\/20\/bnb-price-clears-250-and-could-rally-10-to-retest-this-key-resistance\/","title":{"rendered":"BNB Price Clears $250 and Could Rally 10% To Retest This Key Resistance"},"content":{"rendered":"

BNB price gained momentum and climbed above the $250 resistance. It is showing positive signs and might rally toward the $272 resistance zone.<\/em><\/p>\n

BNB price is moving higher above the $250 resistance.
\nThe price is now trading above $250 and the 100 simple moving average (4 hours).
\nThere was a break above a key bearish trend line with resistance near $252 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 $258.<\/p>\n

BNB Price Regains Traction<\/h2>\n

These past few days, BNB price formed a base above the $230 level. The price started a decent increase above the $240 and $242 resistance levels. In the past two sessions, it even outperformed Ethereum<\/a> and Bitcoin<\/a>.<\/p>\n

BNB broke the 76.4% Fib retracement level of the downward move from the $257.1 swing high to the $231.9 low. There was also a break above a key bearish trend line with resistance near $252 on the 4-hour chart of the BNB\/USD pair.<\/p>\n

It is now trading above $250 and the 100 simple moving average (4 hours). The current price action is positive and signaling more upsides above the $258 resistance zone.<\/p>\n

The next resistance sits near the $262 level. A clear move above the $262 zone could send the price further higher. In the stated case, BNB price could test $272. It is close to the 1.618 Fib extension level of the downward move from the $257.1 swing high to the $231.9 low.<\/p>\n

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

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

A close above the $272 resistance might set the pace for a larger increase toward the $285 resistance. Any more gains might call for a test of the $300 level.<\/p>\n

Downside Correction?<\/h2>\n

If BNB fails to clear the $258 resistance, it could start a downside correction. Initial support on the downside is near the $248 level.<\/p>\n

The next major support is near the $242 level. The main support sits at $232. If there is a downside break below the $232 support, the price could drop toward the $222 support. Any more losses could initiate a larger decline toward the $205 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 $248, $242, and $232.<\/p>\n

Major Resistance Levels \u2013 $258, $272, and $285.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

BNB price gained momentum and climbed above the $250 resistance. It is showing positive signs and might rally toward the $272 resistance zone.<\/em><\/p>\n

BNB price is moving higher above the $250 resistance.
\nThe price is now trading above $250 and the 100 simple moving average (4 hours).
\nThere was a break above a key bearish trend line with resistance near $252 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 $258.<\/p>\n

BNB Price Regains Traction<\/h2>\n

These past few days, BNB price formed a base above the $230 level. The price started a decent increase above the $240 and $242 resistance levels. In the past two sessions, it even outperformed Ethereum<\/a> and Bitcoin<\/a>.<\/p>\n

BNB broke the 76.4% Fib retracement level of the downward move from the $257.1 swing high to the $231.9 low. There was also a break above a key bearish trend line with resistance near $252 on the 4-hour chart of the BNB\/USD pair.<\/p>\n

It is now trading above $250 and the 100 simple moving average (4 hours). The current price action is positive and signaling more upsides above the $258 resistance zone.<\/p>\n

The next resistance sits near the $262 level. A clear move above the $262 zone could send the price further higher. In the stated case, BNB price could test $272. It is close to the 1.618 Fib extension level of the downward move from the $257.1 swing high to the $231.9 low.<\/p>\n

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

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

A close above the $272 resistance might set the pace for a larger increase toward the $285 resistance. Any more gains might call for a test of the $300 level.<\/p>\n

Downside Correction?<\/h2>\n

If BNB fails to clear the $258 resistance, it could start a downside correction. Initial support on the downside is near the $248 level.<\/p>\n

The next major support is near the $242 level. The main support sits at $232. If there is a downside break below the $232 support, the price could drop toward the $222 support. Any more losses could initiate a larger decline toward the $205 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 $248, $242, and $232.<\/p>\n

Major Resistance Levels \u2013 $258, $272, and $285.<\/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-34330","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\/34330","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=34330"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34330\/revisions"}],"predecessor-version":[{"id":34336,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34330\/revisions\/34336"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=34330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=34330"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=34330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}