{"id":457610,"date":"2021-02-26T06:38:08","date_gmt":"2021-02-26T06:38:08","guid":{"rendered":"https:\/\/wncen.com\/?p=457610"},"modified":"2024-06-11T14:13:37","modified_gmt":"2024-06-11T14:13:37","slug":"binance-coin-bnb-steadies-above-200","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/binance-coin-bnb-steadies-above-200\/","title":{"rendered":"Charted: Binance Coin (BNB) Steadies Above $200, Why It Could Rally Again"},"content":{"rendered":"
Binance coin price corrected sharply lower towards the $200 support against the USDT. BNB is consolidating and it is likely to rally again above $250 and $280.<\/em><\/p>\n There was an upside extension in binance coin above the $250 and $300 levels. BNB price even broke the $320 level and traded to a new all-time high at $348.<\/p>\n Recently, there was a sharp decline in bitcoin<\/a>, ethereum<\/a>, and altcoins. BNB also corrected lower sharply and broke a couple of important support at $300. It even broke the $250 support level and spiked below the $200 zone.<\/p>\n A low was formed near $187 before there was a strong recovery. The price climbed above $250, but it failed to gain strength for a push above $300. A high is formed near $280 and the price is currently consolidating. It traded below the 50% Fib retracement level of the recent wave from the $187 swing low to $280 high.<\/p>\n <\/a><\/p>\n An initial support is near the $225 level. It is close to the 61.8% Fib retracement level of the recent wave from the $187 swing low to $280 high. It seems like there is a major contracting triangle pattern forming with resistance near $255 on the 4-hours chart of the BNB\/USDT pair.<\/p>\n A clear upside break above the triangle resistance and $260 could open the doors for a fresh increase. The next key resistance is near the $280 level. The main barrier is at $300, above which the price could surge towards $350.<\/p>\n If BNB fails to continue higher above $255 and $260, there could be a fresh downside correction. The first major support is near the $225 level.<\/p>\n The next major support is near the $210 level or the triangle trend line. A downside break below the triangle support and $200 might call for a sharp decline towards the $150 support.<\/p>\n Technical Indicators<\/p>\n 4-Hours MACD \u2013 The MACD for BNB\/USDT is slowly moving in the bullish zone.<\/p>\n 4-Hours RSI (Relative Strength Index) \u2013 The RSI for BNB\/USDT is currently close to the 50 level.<\/p>\n Major Support Levels \u2013 $225, $210 and $200.<\/p>\n Major Resistance Levels \u2013 $250, $260 and $280.<\/p>\n","protected":false},"excerpt":{"rendered":" Binance coin price corrected sharply lower towards the $200 support against the USDT. BNB is consolidating and it is likely to rally again above $250 and $280. Binance coin price started a strong decline from a new all-time high at $348 against the USDT. The price declined over $100, but it remained stable above the 100 simple moving average (4-hours). There is a major contracting triangle pattern forming with resistance near $250 on the 4-hours chart of the BNB\/USDT pair (data source from Binance). The pair could start another rally if there is a clear break above $250 and $280. Binance Coin Price Holding Key Support There was an upside extension in binance coin above the $250 and $300 levels. BNB price even broke the $320 level and traded to a new all-time high at $348. Recently, there was a sharp decline in bitcoin, ethereum, and altcoins. BNB also corrected lower sharply and broke a couple of important support at $300. It even broke the $250 support level and spiked below the $200 zone. A low was formed near $187 before there was a strong recovery. The price climbed above $250, but it failed to gain strength for a push above $300. A high is formed near $280 and the price is currently consolidating. It traded below the 50% Fib retracement level of the recent wave from the $187 swing low to $280 high. Source: BNBUSDT on TradingView.com An initial support is near the $225 level. It is close to the 61.8% Fib retracement level of the recent wave from the $187 swing low to $280 high. It seems like there is a major contracting triangle pattern forming with resistance near $255 on the 4-hours chart of the BNB\/USDT pair. A clear upside break above the triangle resistance and $260 could open the doors for a fresh increase. The next key resistance is near the $280 level. The main barrier is at $300, above which the price could surge towards $350. Dips Supported in BNB? If BNB fails to continue higher above $255 and $260, there could be a fresh downside correction. The first major support is near the $225 level. The next major support is near the $210 level or the triangle trend line. A downside break below the triangle support and $200 might call for a sharp decline towards the $150 support. Technical Indicators 4-Hours MACD \u2013 The MACD for BNB\/USDT is slowly moving in the bullish zone. 4-Hours RSI (Relative Strength Index) \u2013 The RSI for BNB\/USDT is currently close to the 50 level. Major Support Levels \u2013 $225, $210 and $200. Major Resistance Levels \u2013 $250, $260 and $280.<\/p>\n","protected":false},"author":67,"featured_media":457612,"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-457610","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 Holding Key Support<\/h2>\n
Source: BNBUSDT on TradingView.com<\/a><\/pre>\n
Dips Supported in BNB?<\/h2>\n