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Binance Coin (BNB)

Charted: Binance Coin (BNB) Trades To Record High At $175, $200 Still Possible

Binance coin value is up over 20% and it’s outperforming bitcoin in opposition to the USDT. BNB rallied above $150 and traded to a brand new all-time excessive at $176.

  • Binance coin value is gaining bullish momentum above the $150 degree in opposition to the USDT.
  • The value is up over 20% and it traded to a brand new all-time excessive close to $176.
  • There was a break above a significant bearish development line with resistance close to $130 on the 4-hours chart of the BNB/USDT pair (information supply from Binance).
  • There may very well be a short-term draw back correction, however the bulls are more likely to defend $150.

Binance Coin Price Rallies 20%

In the previous few days, bitcoin, Ethereum, and binance coin prolonged their positive factors. BNB value shaped a assist base above the $120 degree and began one other sturdy upward transfer.

The value cleared the $150 resistance degree and settled effectively above the 100 easy shifting common (4-hours). There was additionally a break above a significant bearish development line with resistance close to $130 on the 4-hours chart of the BNB/USDT pair.

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The pair rallied over 20% and it even spiked above the $175 degree. A brand new all-time excessive is shaped close to $176 and the worth is at present consolidating positive factors. It is testing the 23.6% Fib retracement degree of the upward transfer from the $126 swing low to $176 excessive.

Source: BNBUSDT on TradingView.com

The subsequent main assist is close to the $150 zone (the current breakout zone). It is near the 50% Fib retracement degree of the upward transfer from the $126 swing low to $176 excessive.

Therefore, dips in direction of the $150 degree might discover a sturdy shopping for curiosity within the close to time period. Any extra losses could probably open the doorways for a push in direction of the $125 assist degree.

More Upsides in BNB?

If BNB stays secure above $150, it might proceed to rise. An preliminary resistance on the upside is close to the $175 zone or the $176 excessive.

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A transparent break above $175 and $176 is more likely to clear the trail for one more 10%-15% rally. In the acknowledged case, the worth is more likely to hit the $200 degree within the coming periods.

Technical Indicators

4-Hours MACD – The MACD for BNB/USDT is gaining momentum within the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for BNB/USDT is at present effectively within the overbought zone.

Major Support Levels – $160, $150 and $125.

Major Resistance Levels – $175, $180 and $200.

EditorialTeam

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