BNB value began a contemporary enhance above the $542 resistance zone. The value is now consolidating positive factors and would possibly intention for extra positive factors above $550.
- BNB value began a contemporary enhance above the $540 resistance zone.
- The value is now buying and selling beneath $550 and the 100-hourly easy transferring common.
- There’s a key bearish pattern line forming with resistance at $550 on the hourly chart of the BNB/USD pair (knowledge supply from Binance).
- The pair should keep above the $540 pivot degree to begin one other enhance within the close to time period.
BNB Worth Regains Traction
Previously few days, BNB outperformed Ethereum and Bitcoin. It remained secure above $525 and began one other enhance above the $535 resistance zone.
There was a transfer above the $542 and $545 resistance ranges. The value climbed above the 50% Fib retracement degree of the downward transfer from the $562 swing excessive to the $527 low. Nonetheless, the bears at the moment are energetic close to the $550 resistance zone.
The value is now buying and selling beneath $550 and the 100-hourly easy transferring common. If there’s a contemporary enhance, the value might face resistance close to the $550 degree. There may be additionally a key bearish pattern line forming with resistance at $550 on the hourly chart of the BNB/USD pair. The pattern line is near the 61.8% Fib retracement degree of the downward transfer from the $562 swing excessive to the $527 low.
The following resistance sits close to the $558 degree. A transparent transfer above the $558 zone might ship the value greater. Within the acknowledged case, BNB value might check $565. A detailed above the $565 resistance would possibly set the tempo for a bigger transfer towards the $580 resistance. Any extra positive factors would possibly name for a check of the $592 degree within the close to time period.
Are Dips Supported?
If BNB fails to clear the $550 resistance, it might begin one other decline. Preliminary assist on the draw back is close to the $544 degree. The following main assist is close to the $540 degree.
The primary assist sits at $535. If there’s a draw back break beneath the $535 assist, the value might drop towards the $520 assist. Any extra losses might provoke a bigger decline towards the $505 degree.
Technical Indicators
Hourly MACD – The MACD for BNB/USD is shedding tempo within the bullish zone.
Hourly RSI (Relative Power Index) – The RSI for BNB/USD is at the moment above the 50 degree.
Main Assist Ranges – $540 and $535.
Main Resistance Ranges – $550 and $558.