June 25, 2021

Charted: Binance Coin (BNB) Pumps Above $300, Why Bulls Could Aim New ATH

2 min read

Binance coin cost began a fresh rally above the $280 resistance against the USDT. BNB is now trading above $300 and it may continue to rise towards $350 or $400.

  • Binance coin rate began a fresh rally above the $260 and $280 resistance levels against the USDT.
  • The price is now trading well above $280 and the 100 simple moving typical (4-hours).
  • There is a major bullish pattern line forming with assistance near $290 on the 4-hours chart of the BNB/USDT set (information source from Binance).
  • The set is likely to resume its upward move above the $315 and $320 resistance levels in the near term.

Binance Coin Price Breaks $300

After forming a base above $220, binance coin started a fresh boost. BNB broke the primary $250 resistance and recently surpassed the $275 pivot level.

The bulls were able to lead the cost above the $280 barrier and the 100 easy moving average (4-hours). As a result, there was a break above the $300 level. The price traded to a new regular monthly high at $317 and it is currently fixing gains.

It broke the $305 support level. There was likewise a break below the 23.6% Fib retracement level of the upward relocation from the $269 swing low to $317 high.

Binance Coin (BNB)

Source: BNBUSDT on TradingView.com On the drawback, the first significant support is near the$290 level. It is close to the 50% Fib retracement level of the upward move from the $269 swing low to $317 high. There is also a significant bullish pattern line forming with assistance near $290 on the 4-hours chart of the BNB/USDT set.

On the advantage, the bulls are dealing with resistance near the $315 and $320 levels. The next significant resistance is near the $340 level, above which the cost is likely to set a brand-new all-time high in the near term.

Dips Supported in BNB?

If BNB stops working to continue greater above $315 and $320, there could be a fresh drawback correction. The very first major support is near the $295 level.

The next significant assistance is near the $290 level and the pattern line. If there is a downside break below the trend line support, there could be a drop towards the $280 support zone.

Technical Indicators

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

4-Hours RSI (Relative Strength Index) –-- The RSI for BNB/USDT is presently well above the 50 level.

Major Support Levels –-- $295, $290 and $280.

Major Resistance Levels –-- $315, $320 and $340.