Ethereum

Rally

Resistance

BNB price gained momentum and climbed above the $250 resistance. It is showing positive signs and might rally toward the $272 resistance zone. 
<ul> 
 <li>BNB price is moving higher above the $250 resistance.</li> 
 <li>The price is now trading above $250 and the 100 simple moving average (4 hours).</li> 
 <li>There was a break above a key bearish trend line with resistance near $252 on the 4-hour chart of the BNB/USD pair (data source from Binance).</li> 
 <li>The pair might continue to move up if there is a clear move above $258.</li> 
</ul> 
<h2 id="bnb-price-regains-traction">BNB Price Regains Traction</h2> 
These past few days, BNB price formed a base above the $230 level. The price started a decent increase above the $240 and $242 resistance levels. In the past two sessions, it even outperformed <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-drop-2120/" target="_blank" rel="noopener ">Ethereum</a> and <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-rejects-43-5k/" target="_blank" rel="noopener ">Bitcoin</a>. 
BNB broke the 76.4% Fib retracement level of the downward move from the $257.1 swing high to the $231.9 low. There was also a break above a key bearish trend line with resistance near $252 on the 4-hour chart of the BNB/USD pair. 
It is now trading above $250 and the 100 simple moving average (4 hours). The current price action is positive and signaling more upsides above the $258 resistance zone. 
The next resistance sits near the $262 level. A clear move above the $262 zone could send the price further higher. In the stated case, BNB price could test $272. It is close to the 1.618 Fib extension level of the downward move from the $257.1 swing high to the $231.9 low. 
<a href="https://www.newsbtc.com/wp-content/uploads/2023/12/Binance-Coin-BNB.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-566095" src="https://www.newsbtc.com/wp-content/uploads/2023/12/Binance-Coin-BNB.png?resize=1024%2C461" alt="BNB Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2023/12/Binance-Coin-BNB.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2023/12/Binance-Coin-BNB.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/12/Binance-Coin-BNB.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/12/Binance-Coin-BNB.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/12/Binance-Coin-BNB.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/12/Binance-Coin-BNB.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/12/Binance-Coin-BNB.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/BNBUSD/" target="_blank" rel="noopener nofollow">BNBUSD on TradingView.com</a> 
A close above the $272 resistance might set the pace for a larger increase toward the $285 resistance. Any more gains might call for a test of the $300 level. 
<h2 id="downside-correction">Downside Correction?</h2> 
If BNB fails to clear the $258 resistance, it could start a downside correction. Initial support on the downside is near the $248 level. 
The next major support is near the $242 level. The main support sits at $232. If there is a downside break below the $232 support, the price could drop toward the $222 support. Any more losses could initiate a larger decline toward the $205 level. 
Technical Indicators 
4-Hours MACD – The MACD for BNB/USD is gaining pace in the bullish zone. 
4-Hours RSI (Relative Strength Index) – The RSI for BNB/USD is currently above the 50 level. 
Major Support Levels – $248, $242, and $232. 
Major Resistance Levels – $258, $272, and $285.

BNB Price Clears $250 and Could Rally 10% To Retest This Key Resistance

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