From $202, the BNB price (Binance coin) is rising in relation to the USD. The resistance level of $230 or perhaps $235 may be reached by the price in the future.
- The price of the Binance currency is gradually rising against the US Dollar from the $202 region.
- The price is currently trading below $225 and the 4-hour 100 SMA.
- On the 4-hour chart of the BNB/USD pair (data source from Binance), a connecting negative trend line is developing, with resistance located close to $224.
- Above $224 and $225, the pair might start to move in the bullish direction.
Binance Coin Price Eyes More Upsides
BNB price found support in the $202 area following a significant fall. Similar to Bitcoin and Ethereum, the price just began a recovery wave after trading as low as $203.5.
The resistance levels of $212 and $215 were moved over. The price increased over the key drop level from the swing high of $248 to the low of $203, or the 23.6% Fib retracement level. The $220 resistance area is currently being defended by the bears, though.
The BNB price is remains below $225 and the 4-hour 100-simple moving average. On the 4-hour chart of the BNB/USD pair, a connecting negative trend line is also developing, with resistance located close to $224.
On the upside, $225 and the trend line act as resistance. The primary slide from the $248 swing high to the $203 low is roughly retraced by the trend line at a 50% Fib level. The price could rise much further if it makes a decisive move above the $225 region.
Near $230 is the next significant barrier, and if this is overcome, the price may increase to $235. A push above the $250 level may be more likely if the $235 resistance is closed above.
Another Decline in BNB?
BNB could begin another drop if it is unable to overcome the $225 resistance. Near $214 is where initial support on the downside is located.
Near the $212 mark is the next significant support. The price may fall toward the $202 support if there is a downward break below the $212 support. Any additional losses might push the value closer to the $200 support.
Technical Indicators for the crypto price prediction:
- 4-Hours MACD – The BNB/USD MACD is accelerating toward the bearish region.
- Relative Strength Index (4-hours): BNB/USD’s RSI is currently higher than 50.
- Levels of Major Support: $214, $212, and $202.
- $225, $230, and $235 are the three main resistance levels.
Also check: BNB Price Prediction 2023 – 2030
