{"id":35781,"date":"2024-02-05T05:52:37","date_gmt":"2024-02-05T09:52:37","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=35781"},"modified":"2024-02-05T05:52:37","modified_gmt":"2024-02-05T09:52:37","slug":"bnb-price-increase-to-continue-this-resistance-could-trigger-fresh-rally","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/05\/bnb-price-increase-to-continue-this-resistance-could-trigger-fresh-rally\/","title":{"rendered":"BNB Price Increase To Continue? This Resistance Could Trigger Fresh Rally"},"content":{"rendered":"

BNB price is attempting a fresh increase from the $288 zone. The price could start a fresh rally if there is a clear move above the $310 resistance.<\/em><\/p>\n

BNB price is showing bullish signs above the $300 pivot level.
\nThe price is now trading below $310 and the 100 simple moving average (4 hours).
\nThere is a key bearish trend line forming with resistance near $306 on the 4-hour chart of the BNB\/USD pair (data source from Binance).
\nThe pair gather bullish momentum if there is a close above the $308-$310 resistance zone.<\/p>\n

BNB Price Eyes Fresh Rally<\/h2>\n

In the past few days, BNB price started a decent increase and cleared the $300 resistance zone, unlike Bitcoin<\/a> and Ethereum<\/a>. There was a move above the $305 level before the bears appeared.<\/p>\n

A high was formed near $313 and the price recently started a downside correction. There was a move below the $308 level. The price declined below the 50% Fib retracement level of the upward move from the $287 swing low to the $313 high.<\/p>\n

BNB is now consolidating near $305 and the 100 simple moving average (4 hours). Immediate resistance is near the $308 level. There is also a key bearish trend line forming with resistance near $306 on the 4-hour chart of the BNB\/USD pair.<\/p>\n

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

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

The next resistance sits near the $310 level. A clear move above the $310 zone could send the price further higher. In the stated case, BNB price could test $320. A close above the $320 resistance might set the pace for a larger increase toward the $335 resistance. Any more gains might call for a test of the $350 level.<\/p>\n

Another Decline?<\/h2>\n

If BNB fails to clear the $310 resistance, it could continue to move down. Initial support on the downside is near the $300 level. The next major support is near the $292 level or the 76.4% Fib retracement level of the upward move from the $287 swing low to the $313 high.<\/p>\n

The main support sits at $288. If there is a downside break below the $288 support, the price could drop toward the $275 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 above the 50 level.<\/p>\n

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

Major Resistance Levels \u2013 $308, $310, and $320.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

BNB price is attempting a fresh increase from the $288 zone. The price could start a fresh rally if there is a clear move above the $310 resistance.<\/em><\/p>\n

BNB price is showing bullish signs above the $300 pivot level.
\nThe price is now trading below $310 and the 100 simple moving average (4 hours).
\nThere is a key bearish trend line forming with resistance near $306 on the 4-hour chart of the BNB\/USD pair (data source from Binance).
\nThe pair gather bullish momentum if there is a close above the $308-$310 resistance zone.<\/p>\n

BNB Price Eyes Fresh Rally<\/h2>\n

In the past few days, BNB price started a decent increase and cleared the $300 resistance zone, unlike Bitcoin<\/a> and Ethereum<\/a>. There was a move above the $305 level before the bears appeared.<\/p>\n

A high was formed near $313 and the price recently started a downside correction. There was a move below the $308 level. The price declined below the 50% Fib retracement level of the upward move from the $287 swing low to the $313 high.<\/p>\n

BNB is now consolidating near $305 and the 100 simple moving average (4 hours). Immediate resistance is near the $308 level. There is also a key bearish trend line forming with resistance near $306 on the 4-hour chart of the BNB\/USD pair.<\/p>\n

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

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

The next resistance sits near the $310 level. A clear move above the $310 zone could send the price further higher. In the stated case, BNB price could test $320. A close above the $320 resistance might set the pace for a larger increase toward the $335 resistance. Any more gains might call for a test of the $350 level.<\/p>\n

Another Decline?<\/h2>\n

If BNB fails to clear the $310 resistance, it could continue to move down. Initial support on the downside is near the $300 level. The next major support is near the $292 level or the 76.4% Fib retracement level of the upward move from the $287 swing low to the $313 high.<\/p>\n

The main support sits at $288. If there is a downside break below the $288 support, the price could drop toward the $275 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 above the 50 level.<\/p>\n

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

Major Resistance Levels \u2013 $308, $310, and $320.<\/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-35781","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\/35781","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=35781"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35781\/revisions"}],"predecessor-version":[{"id":35786,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35781\/revisions\/35786"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=35781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=35781"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=35781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}