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.
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.
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.
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.