Convergence

Rise

Coin

Divergence

<ul class="news-points"> 
 <li>Despite recent bullish candles, BNB’s buying momentum was a little dodgy.</li> 
 <li>The KST needs to make a higher low while BNB needs a lower low for a bullish confirmation.</li> 
 <li>If the ADX and the +DMI fail to increase, then BNB may not hit $245 in the short term.</li> 
</ul> 
<a href="https://coinedition.com/tag/Binance-Coin-BNB/" rel="noopener noreferrer nofollow">Binance Coin (BNB)</a> has been exhibiting both strong price surges and occasional pullbacks in recent times.&nbsp; But since August 7, the consolidation period seems to have ended as BNB pushed upwards, and broke above the $240 resistance. 
However, a key question may have emerged in the minds of market participants— can BNB maintain its position above the crucial support level of $240.80? 
Well, from the technical outlook, the cryptocurrency is unlikely to face massive downward pressure due to the increased buying momentum. 
<h2 class="wp-block-heading" id="h-little-signs-of-weakness"><a></a>Little Signs of Weakness</h2> 
This is because the BNB/USD 4-hour chart showed that the last five candles have been bullish engulfing ones, which confirms how the <a href="https://coinedition.com/lookonchain-spots-whale-borrowing-34m-in-bnb-to-farm-cyber-sei/" rel="noopener noreferrer nofollow">momentum</a> has shifted in favor of buyers. However, the Moving Average Convergence Divergence (MACD) is already giving signs of weakness, which is one indicator traders need to watch when looking for an entry. 
At the time of writing… 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/can-bnb-rise-above-245-heres-what-technical-indicators-suggest/">Can BNB Rise Above $245? Here’s What Technical Indicators Suggest</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

Can BNB Rise Above $245? Here’s What Technical Indicators Suggest

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