BNB worth continues to be consolidating above the $200 help zone in opposition to the US Greenback. It may begin an honest enhance if there’s a shut above the $220 resistance.
- BNB worth is slowly transferring greater towards the $220 resistance in opposition to the US Greenback.
- The value is now buying and selling above $210 and the 100 easy transferring common (4 hours).
- There’s a key bullish pattern line forming with help close to $211.5 on the 4-hour chart of the BNB/USD pair (knowledge supply from Binance).
- The pair would possibly acquire bullish momentum if there’s a every day shut above $220.
BNB Worth Stays In A Vary
This previous week, BNB worth once more retested the $200-$202 help zone. The bears made one other try and clear the important thing $200 help, however they failed. A low was shaped close to $203 earlier than the value began an honest enhance, like Bitcoin and Ethereum.
There was a transfer above the $210 and $212 ranges. The value examined the primary $220 resistance. A excessive is shaped close to $219.2 and the value is now consolidating above the 50% Fib retracement degree of the upward transfer from the $203 swing low to the $220 excessive.
BNB is now buying and selling above $210 and the 100 easy transferring common (4 hours). There’s additionally a key bullish pattern line forming with help close to $211.5 on the 4-hour chart of the BNB/USD pair.
Supply: BNBUSD on TradingView.com
If there’s a contemporary enhance, the value may face resistance close to the $215.5 degree. The subsequent resistance sits close to the $220 degree. A transparent transfer above the $220 zone may ship the value additional greater. Within the acknowledged case, BNB worth may check $235. A detailed above the $235 resistance would possibly set the tempo for a bigger enhance towards the $250 resistance.
Extra Losses?
If BNB fails to clear the $220 resistance, it may begin one other decline. Preliminary help on the draw back is close to the $211 degree and the pattern line. The subsequent main help is close to the $207 degree or the 76.4% Fib retracement degree of the upward transfer from the $203 swing low to the $220 excessive.
If there’s a draw back break under the $207 help, the value may drop towards the $202 help. Any extra losses may provoke a bigger decline towards the $185 degree.
Technical Indicators
4-Hours MACD – The MACD for BNB/USD is dropping tempo within the bearish zone.
4-Hours RSI (Relative Power Index) – The RSI for BNB/USD is presently above the 50 degree.
Main Assist Ranges – $211, $207, and $202.
Main Resistance Ranges – $215, $220, and $222.