BNB value is gaining bullish momentum above the $550 resistance. The value is displaying optimistic indicators and should prolong the rally above $650.
- BNB value elevated by greater than 15% and broke by way of the $600 resistance zone.
- The value is at the moment buying and selling above $580 and the 100 easy shifting common (4-hours).
- A key bullish development line has fashioned on the 4-hours chart of the BNB/USD pair with help at $598 (Supply: Binance).
- The pair might proceed to rise in direction of the $650 resistance zone and even $700.
BNB value continues to rise
Within the final BNB value prediction, we mentioned the opportunity of additional positive aspects above the $500 resistance zone. The value continued to rise and broke many boundaries close to the $550 stage.
BNB is at the moment outperforming Bitcoin and Ethereum, breaking above the $580 resistance. It’s up greater than 10% as we speak and is buying and selling above $600. A excessive was fashioned close to $633 and the value is now consolidating positive aspects. It was buying and selling above the 23.6% Fib retracement stage of the upward transfer from the $364 swing low to $633 excessive.
The value is at the moment above $600 and the 100 easy shifting common (4-hours). Rapid resistance is close to $625. The subsequent resistance is close to $635. A transparent break above the $635 space may result in additional value positive aspects.
Supply: BBNBUSD on TradingView.com
Within the above situation, BNB value might take a look at $650. An in depth above the $650 resistance may set the stage for additional positive aspects in direction of the $700 resistance. Any additional positive aspects within the coming days might require a take a look at of the $780 stage.
Restricted decline?
If BNB fails to interrupt above the $635 resistance, a draw back correction might start. Preliminary help on the draw back lies close to the $600 stage and the development line.
The subsequent main help is close to $570. Main help is situated at $500, the 50% Fibonacci retracement stage of the upward transfer from the $364 swing low to $633 excessive. If there’s a break under the $500 help, the value might drop in direction of the $450 help. Any extra losses may set off a deeper drop in direction of the $420 stage.
Technical indicators
4 hours MACD – BNB/USD MACD is accelerating within the bullish zone.
4-hour RSI (Relative Energy Index) – The RSI for BNB/USD is at the moment above the 50 stage.
Main help ranges – $600, $570 and $500.
The primary resistance ranges – $635, $650 and $700.
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