|

BNB Price Holds Its Uptrend – Key Levels That Could Trigger More Gains

BNB worth is gaining tempo above the $920 zone. The worth is now displaying optimistic indicators and would possibly purpose for a transfer above the $950 degree within the close to time period.

  • BNB worth began a contemporary improve above the $900 and $920 ranges.
  • The worth is now buying and selling above $920 and the 100-hourly easy transferring common.
  • There is a key bullish pattern line forming with help at $925 on the hourly chart of the BNB/USD pair (knowledge supply from Binance).
  • The pair should keep above the $910 degree to begin one other improve within the close to time period.

BNB Price Eyes More Gains

BNB worth fashioned a base above the $880 degree and began a contemporary improve, beating Ethereum and Bitcoin. There was a gentle transfer above the $892 and $920 ranges.

The bulls even cleared the $935 resistance zone. A brand new all-time high was fashioned at $950 and the worth is now consolidating positive factors. There was a minor decline under the 23.6% Fib retracement degree of the upward transfer from the $871 swing low to the $950 high.

The worth is now buying and selling above $920 and the 100-hourly easy transferring common. Besides, there’s a key bullish pattern line forming with help at $925 on the hourly chart of the BNB/USD pair.

On the upside, the worth might face resistance close to the $935 degree. The subsequent resistance sits close to the $942 degree. A transparent transfer above the $942 zone might ship the worth increased. In the acknowledged case, BNB worth might take a look at $950. A detailed above the $950 resistance would possibly set the tempo for a bigger transfer towards the $965 resistance. Any extra positive factors would possibly name for a take a look at of the $1,000 deal with within the close to time period.

Downside Correction?

If BNB fails to clear the $935 resistance, it might begin one other decline. Initial help on the draw back is close to the $920 degree. The subsequent main help is close to the $910 degree or the 50% Fib retracement degree of the upward transfer from the $871 swing low to the $950 high.

The major help sits at $900. If there’s a draw back break under the $900 help, the worth might drop towards the $888 help. Any extra losses might provoke a bigger decline towards the $872 degree.

Technical Indicators

Hourly MACD – The MACD for BNB/USD is gaining tempo within the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BNB/USD is at present above the 50 degree.

Major Support Levels – $925 and $910.

Major Resistance Levels – $935 and $950.

Similar Posts