{"id":35225,"date":"2024-01-18T06:54:31","date_gmt":"2024-01-18T10:54:31","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=35225"},"modified":"2024-01-18T06:54:31","modified_gmt":"2024-01-18T10:54:31","slug":"bnb-price-signals-bullish-exhaustion-are-dips-attractive-in-short-term","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/01\/18\/bnb-price-signals-bullish-exhaustion-are-dips-attractive-in-short-term\/","title":{"rendered":"BNB Price Signals Bullish Exhaustion, Are Dips Attractive In Short-term?"},"content":{"rendered":"

BNB price is struggling to clear the $320 resistance zone. It might decline toward the $288 support zone before the bulls aim for another increase.<\/em><\/p>\n

BNB price is struggling to gain traction above the $320 resistance.
\nThe price is now trading near $310 and the 100 simple moving average (4 hours).
\nThere is a major declining channel or a bullish flag pattern forming with resistance near $316 on the 4-hour chart of the BNB\/USD pair (data source from Binance).
\nThe pair might continue to move up if it stays above the $288 and $282 support levels.<\/p>\n

BNB Price Holds Support<\/h2>\n

After forming a base above the $280 level, BNB price started a decent increase. There was a move above the $305 and $315 resistance levels. However, the bears seem to be active near the $320 zone.<\/p>\n

A high was formed near $320 and the price is now correcting gains. However, the downsides are limited compared to Bitcoin<\/a> and Ethereum<\/a>. There was a move below the $312 level. The price is now approaching the 50% Fib retracement level of the upward move from the $289.4 swing low to the $320.1 high.<\/p>\n

BNB price is now trading near $310 and the 100 simple moving average (4 hours). There is also a major declining channel or a bullish flag pattern forming with resistance near $316 on the 4-hour chart of the BNB\/USD pair.<\/p>\n

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

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

Immediate resistance is near the $315 level or the channel region. The next resistance sits near the $320 level. A clear move above the $320 zone could send the price further higher. In the stated case, BNB price could test $340. A close above the $340 resistance might set the pace for a larger increase toward the $350 resistance. Any more gains might call for a test of the $375 level.<\/p>\n

More Downsides?<\/h2>\n

If BNB fails to clear the $315 resistance, it could continue to move down. Initial support on the downside is near the $300 level or the 61.8% Fib retracement level of the upward move from the $289.4 swing low to the $320.1 high.<\/p>\n

The next major support is near the $292 level. The main support sits at $288. If there is a downside break below the $288 support, the price could drop toward the $282 support. Any more losses could initiate a larger decline toward the $262 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 below the 50 level.<\/p>\n

Major Support Levels \u2013 $300, $292, and $288.<\/p>\n

Major Resistance Levels \u2013 $315, $320, and $325.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

BNB price is struggling to clear the $320 resistance zone. It might decline toward the $288 support zone before the bulls aim for another increase.<\/em><\/p>\n

BNB price is struggling to gain traction above the $320 resistance.
\nThe price is now trading near $310 and the 100 simple moving average (4 hours).
\nThere is a major declining channel or a bullish flag pattern forming with resistance near $316 on the 4-hour chart of the BNB\/USD pair (data source from Binance).
\nThe pair might continue to move up if it stays above the $288 and $282 support levels.<\/p>\n

BNB Price Holds Support<\/h2>\n

After forming a base above the $280 level, BNB price started a decent increase. There was a move above the $305 and $315 resistance levels. However, the bears seem to be active near the $320 zone.<\/p>\n

A high was formed near $320 and the price is now correcting gains. However, the downsides are limited compared to Bitcoin<\/a> and Ethereum<\/a>. There was a move below the $312 level. The price is now approaching the 50% Fib retracement level of the upward move from the $289.4 swing low to the $320.1 high.<\/p>\n

BNB price is now trading near $310 and the 100 simple moving average (4 hours). There is also a major declining channel or a bullish flag pattern forming with resistance near $316 on the 4-hour chart of the BNB\/USD pair.<\/p>\n

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

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

Immediate resistance is near the $315 level or the channel region. The next resistance sits near the $320 level. A clear move above the $320 zone could send the price further higher. In the stated case, BNB price could test $340. A close above the $340 resistance might set the pace for a larger increase toward the $350 resistance. Any more gains might call for a test of the $375 level.<\/p>\n

More Downsides?<\/h2>\n

If BNB fails to clear the $315 resistance, it could continue to move down. Initial support on the downside is near the $300 level or the 61.8% Fib retracement level of the upward move from the $289.4 swing low to the $320.1 high.<\/p>\n

The next major support is near the $292 level. The main support sits at $288. If there is a downside break below the $288 support, the price could drop toward the $282 support. Any more losses could initiate a larger decline toward the $262 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 below the 50 level.<\/p>\n

Major Support Levels \u2013 $300, $292, and $288.<\/p>\n

Major Resistance Levels \u2013 $315, $320, and $325.<\/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-35225","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\/35225","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=35225"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35225\/revisions"}],"predecessor-version":[{"id":35232,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35225\/revisions\/35232"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=35225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=35225"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=35225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}