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BNB value is gaining bullish momentum above the $550 resistance. The worth is exhibiting constructive indicators and may lengthen its rally above $650.
- BNB value is up over 15% and it broke the $600 resistance zone.
- The worth is now buying and selling above $580 and the 100 easy transferring common (4 hours).
- There’s a key bullish pattern line forming with help at $598 on the 4-hour chart of the BNB/USD pair (information supply from Binance).
- The pair may proceed to rise towards the $650 resistance zone and even $700.
BNB Worth Extends Rally
Within the final BNB value prediction, we mentioned the probabilities of extra beneficial properties above the $500 resistance zone. The worth continued to rise and broke many hurdles close to the $550 degree.
BNB is now outperforming Bitcoin and Ethereum with a transfer above the $580 resistance. It’s up over 10% at this time and buying and selling above $600. A excessive was fashioned close to $633 and the value is now consolidating beneficial properties. It’s buying and selling above the 23.6% Fib retracement degree of the upward transfer from the $364 swing low to the $633 excessive.
The worth is now buying and selling above $600 and the 100 easy transferring common (4 hours). Rapid resistance is close to the $625 degree. The following resistance sits close to the $635 degree. A transparent transfer above the $635 zone may ship the value additional greater.
Supply: BNBUSD on TradingView.com
Within the acknowledged case, BNB value may check $650. A detailed above the $650 resistance may set the tempo for a bigger improve towards the $700 resistance. Any extra beneficial properties may name for a check of the $780 degree within the coming days.
Dips Restricted?
If BNB fails to clear the $635 resistance, it may begin a draw back correction. Preliminary help on the draw back is close to the $600 degree and the pattern line.
The following main help is close to the $570 degree. The primary help sits at $500 or the 50% Fib retracement degree of the upward transfer from the $364 swing low to the $633 excessive. If there’s a draw back break under the $500 help, the value may drop towards the $450 help. Any extra losses may provoke a bigger decline towards the $420 degree.
Technical Indicators
4-Hours MACD – The MACD for BNB/USD is gaining tempo within the bullish zone.
4-Hours RSI (Relative Power Index) – The RSI for BNB/USD is at present above the 50 degree.
Main Assist Ranges – $600, $570, and $500.
Main Resistance Ranges – $635, $650, and $700.
Disclaimer: The article is offered for academic functions solely. It doesn’t signify the opinions of NewsBTC on whether or not to purchase, promote or maintain any investments and naturally investing carries dangers. You might be suggested to conduct your personal analysis earlier than making any funding selections. Use info offered on this web site solely at your personal threat.
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