BNB value is gaining bullish momentum above the $550 resistance. The worth is displaying optimistic indicators and may prolong its rally above $650.
- BNB value is up over 15% and it broke the $600 resistance zone.
- The worth is now buying and selling above $580 and the 100 easy shifting common (4 hours).
- There’s a key bullish development line forming with help at $598 on the 4-hour chart of the BNB/USD pair (information supply from Binance).
- The pair may proceed to rise towards the $650 resistance zone and even $700.
BNB Worth Extends Rally
Within the final BNB value prediction, we mentioned the possibilities of extra positive aspects above the $500 resistance zone. The worth continued to rise and broke many hurdles close to the $550 degree.
BNB is now outperforming Bitcoin and Ethereum with a transfer above the $580 resistance. It’s up over 10% at present and buying and selling above $600. A excessive was fashioned close to $633 and the value is now consolidating positive aspects. It’s buying and selling above the 23.6% Fib retracement degree of the upward transfer from the $364 swing low to the $633 excessive.
The worth is now buying and selling above $600 and the 100 easy shifting common (4 hours). Speedy resistance is close to the $625 degree. The following resistance sits close to the $635 degree. A transparent transfer above the $635 zone may ship the value additional increased.
Supply: BNBUSD on TradingView.com
Within the acknowledged case, BNB value may take a look at $650. An in depth above the $650 resistance may set the tempo for a bigger improve towards the $700 resistance. Any extra positive aspects may name for a take a look at of the $780 degree within the coming days.
Dips Restricted?
If BNB fails to clear the $635 resistance, it may begin a draw back correction. Preliminary help on the draw back is close to the $600 degree and the development line.
The following main help is close to the $570 degree. The primary help sits at $500 or the 50% Fib retracement degree of the upward transfer from the $364 swing low to the $633 excessive. If there’s a draw back break beneath the $500 help, the value may drop towards the $450 help. Any extra losses may provoke a bigger decline towards the $420 degree.
Technical Indicators
4-Hours MACD – The MACD for BNB/USD is gaining tempo within the bullish zone.
4-Hours RSI (Relative Power Index) – The RSI for BNB/USD is at the moment above the 50 degree.
Main Assist Ranges – $600, $570, and $500.
Main Resistance Ranges – $635, $650, and $700.
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