{"id":452723,"date":"2020-12-21T07:28:39","date_gmt":"2020-12-21T07:28:39","guid":{"rendered":"https:\/\/wncen.com\/?p=452723"},"modified":"2024-06-11T14:12:11","modified_gmt":"2024-06-11T14:12:11","slug":"binance-coin-bnb-could-test-40","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/binance-coin-bnb-could-test-40\/","title":{"rendered":"Charted: Binance Coin (BNB) Rally Reaches Crucial Juncture, Why It Could Test $40"},"content":{"rendered":"
Binance coin price is up over 7% and it is outperforming bitcoin<\/a> against the USDT. BNB could rally further if it clears the $35.50 resistance zone in the near term.<\/em><\/p>\n In the past few days, bitcoin, Ethereum<\/a>, ripple, and binance coin started a sharp increase. BNB price formed a support base near $26.60 before starting a strong increase.<\/p>\n There was a break above a crucial bearish trend line with resistance near $28.00 on the 4-hours chart of the BNB\/USDT pair. The pair gained pace above the $30.00 level and the 100 simple moving average (4-hours). There was also a break above the 61.8% Fib retracement level of the downward move from the $35.49 high to $26.67 low.<\/p>\n BNB is now trading above the $35.00 level, with a bullish angle. It is now testing a major resistance near $35.50 and the previous swing high.<\/p>\n <\/a><\/p>\n If there is a clear break above the $35.50 resistance, there could be a sharp increase. The next major resistance is near the $37.50 level. It is close to the 1.236 Fib extension level of the downward move from the $35.49 high to $26.67 low.<\/p>\n The next major stop for the bulls could be near the $40.00 level. Any more upsides might be limited in the short term unless bitcoin clears the $25,000 level.<\/p>\n If BNB fails to clear the $35.50 and $35.60 resistance levels, it could start a downside correction. An initial support is near the $34.50 level.<\/p>\n The first major support is near the $32.00 level, below which the price might extend its decline. In the stated case, the price could revisit the $30.00 support zone.<\/p>\n Technical Indicators<\/p>\n 4-Hours MACD \u2013 The MACD for BNB\/USDT is gaining momentum in the bullish zone.<\/p>\n 4-Hours RSI (Relative Strength Index) \u2013 The RSI for BNB\/USDT is currently well above the 50 level.<\/p>\n Major Support Levels \u2013 $34.50, $32.50 and $32.00.<\/p>\n Major Resistance Levels \u2013 $35.50, $37.50 and $40.00.<\/p>\n","protected":false},"excerpt":{"rendered":" Binance coin price is up over 7% and it is outperforming bitcoin against the USDT. BNB could rally further if it clears the $35.50 resistance zone in the near term. Binance coin price is gaining bullish momentum above the $32.00 resistance against the USDT. The price is testing a major hurdle near $35.50 and the previous swing high. There was a break above a crucial bearish trend line with resistance near $28.00 on the 4-hours chart of the BNB\/USDT pair (data source from Binance). Bitcoin price is consolidating above $23,000 and it could continue to rise. Binance Coin Price Showing Positive Signs In the past few days, bitcoin, Ethereum, ripple, and binance coin started a sharp increase. BNB price formed a support base near $26.60 before starting a strong increase. There was a break above a crucial bearish trend line with resistance near $28.00 on the 4-hours chart of the BNB\/USDT pair. The pair gained pace above the $30.00 level and the 100 simple moving average (4-hours). There was also a break above the 61.8% Fib retracement level of the downward move from the $35.49 high to $26.67 low. BNB is now trading above the $35.00 level, with a bullish angle. It is now testing a major resistance near $35.50 and the previous swing high. Source: BNBUSDT on TradingView.com If there is a clear break above the $35.50 resistance, there could be a sharp increase. The next major resistance is near the $37.50 level. It is close to the 1.236 Fib extension level of the downward move from the $35.49 high to $26.67 low. The next major stop for the bulls could be near the $40.00 level. Any more upsides might be limited in the short term unless bitcoin clears the $25,000 level. Dips Supported in BNB If BNB fails to clear the $35.50 and $35.60 resistance levels, it could start a downside correction. An initial support is near the $34.50 level. The first major support is near the $32.00 level, below which the price might extend its decline. In the stated case, the price could revisit the $30.00 support zone. Technical Indicators 4-Hours MACD \u2013 The MACD for BNB\/USDT is gaining momentum in the bullish zone. 4-Hours RSI (Relative Strength Index) \u2013 The RSI for BNB\/USDT is currently well above the 50 level. Major Support Levels \u2013 $34.50, $32.50 and $32.00. Major Resistance Levels \u2013 $35.50, $37.50 and $40.00.<\/p>\n","protected":false},"author":67,"featured_media":452725,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[13291,11427,79524,79611],"class_list":["post-452723","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-binance-coin","tag-bnb","tag-bnbusd","tag-bnbusdt"],"acf":[],"yoast_head":"\n\n
Binance Coin Price Showing Positive Signs<\/h2>\n
Source: BNBUSDT on TradingView.com<\/a><\/pre>\n
Dips Supported in BNB<\/h2>\n