{"id":36164,"date":"2024-02-16T04:53:43","date_gmt":"2024-02-16T08:53:43","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=36164"},"modified":"2024-02-16T04:53:43","modified_gmt":"2024-02-16T08:53:43","slug":"bnb-price-surges-over-5-why-bulls-could-aim-for-400-in-feb-2024","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/16\/bnb-price-surges-over-5-why-bulls-could-aim-for-400-in-feb-2024\/","title":{"rendered":"BNB Price Surges Over 5%, Why Bulls Could Aim For $400 In Feb 2024"},"content":{"rendered":"

BNB price is gaining bullish momentum from the $315 support zone. The price could extend its rally above $375 and rise toward the $400 level in the near term.<\/em><\/p>\n

BNB price is showing bullish signs above the $350 pivot level.
\nThe price is now trading above $355 and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support at $354 on the 4-hour chart of the BNB\/USD pair (data source from Binance).
\nThe pair could gather bullish momentum if there is a close above the $365 resistance zone.<\/p>\n

BNB Price Regains Strength<\/h2>\n

In the past few days, BNB price started a decent increase and cleared the $335 resistance zone. There was a move above the $350 level to move into a positive zone, like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

The price even spiked above $365. A high was formed near $366 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $315 swing low to the $366 high. BNB is now trading above $355 and the 100 simple moving average (4 hours).<\/p>\n

There is also a key bullish trend line forming with support at $354 on the 4-hour chart of the BNB\/USD pair. Immediate resistance is near the $365 level.<\/p>\n

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

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

The next resistance sits near the $375 level. A clear move above the $375 zone could send the price further higher. In the stated case, BNB price could test $388. A close above the $388 resistance might set the pace for a larger increase toward the $400 resistance. Any more gains might call for a test of the $420 level.<\/p>\n

Dips Supported?<\/h2>\n

If BNB fails to clear the $365 resistance, it could start a downside correction. Initial support on the downside is near the $355 level and the trend line.<\/p>\n

The next major support is near the $342 level or the 50% Fib retracement level of the upward move from the $315 swing low to the $366 high. The main support sits at $335. If there is a downside break below the $335 support, the price could drop toward the $322 support. Any more losses could initiate a larger decline toward the $315 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 $355, $342, and $335.<\/p>\n

Major Resistance Levels \u2013 $365, $375, and $388.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

BNB price is gaining bullish momentum from the $315 support zone. The price could extend its rally above $375 and rise toward the $400 level in the near term.<\/em><\/p>\n

BNB price is showing bullish signs above the $350 pivot level.
\nThe price is now trading above $355 and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support at $354 on the 4-hour chart of the BNB\/USD pair (data source from Binance).
\nThe pair could gather bullish momentum if there is a close above the $365 resistance zone.<\/p>\n

BNB Price Regains Strength<\/h2>\n

In the past few days, BNB price started a decent increase and cleared the $335 resistance zone. There was a move above the $350 level to move into a positive zone, like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

The price even spiked above $365. A high was formed near $366 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $315 swing low to the $366 high. BNB is now trading above $355 and the 100 simple moving average (4 hours).<\/p>\n

There is also a key bullish trend line forming with support at $354 on the 4-hour chart of the BNB\/USD pair. Immediate resistance is near the $365 level.<\/p>\n

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

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

The next resistance sits near the $375 level. A clear move above the $375 zone could send the price further higher. In the stated case, BNB price could test $388. A close above the $388 resistance might set the pace for a larger increase toward the $400 resistance. Any more gains might call for a test of the $420 level.<\/p>\n

Dips Supported?<\/h2>\n

If BNB fails to clear the $365 resistance, it could start a downside correction. Initial support on the downside is near the $355 level and the trend line.<\/p>\n

The next major support is near the $342 level or the 50% Fib retracement level of the upward move from the $315 swing low to the $366 high. The main support sits at $335. If there is a downside break below the $335 support, the price could drop toward the $322 support. Any more losses could initiate a larger decline toward the $315 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 $355, $342, and $335.<\/p>\n

Major Resistance Levels \u2013 $365, $375, and $388.<\/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-36164","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\/36164","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=36164"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36164\/revisions"}],"predecessor-version":[{"id":36174,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36164\/revisions\/36174"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=36164"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=36164"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=36164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}