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The post <a href="https://coinpedia.org/price-analysis/binance-coin-price-is-experiencing-break-out-rally-bnb-price-to-hit-300-soon/">Binance Coin Price Is Experiencing Break Out Rally! BNB Price To Hit $300 Soon?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The Binance coin price has displayed a positive trend for the first time after trading sideways for over a week. The BNB token has jumped over 9% within the past 24 hours and has cumulatively added over 15% during the past week, highlighting increasing buying pressure for the coin in the crypto space. 
The <a href="https://coinpedia.org/price-prediction/bnb-binance-coin-price-prediction/">BNB coin price</a> traded in a closed range between $222.7 and $230.2 for over a week, following which the bulls gained power and broke out of the range. However, the rally was short-lived as the price faced rejection at $247.2. 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="573" src="https://image.coinpedia.org/wp-content/uploads/2023/12/26162832/image-186-1024x573.png" alt="Binance Coin Price Analysis" class="wp-image-256486" srcset="https://image.coinpedia.org/wp-content/uploads/2023/12/26162832/image-186-1024x573.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/12/26162832/image-186-300x168.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/12/26162832/image-186-768x429.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/12/26162832/image-186-150x84.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/12/26162832/image-186.png 1436w" sizes="(max-width: 1024px) 100vw, 1024px">
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 TradingView: BNB/USDT
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Following this, the coin experienced a pullback, resulting in it erasing all its gains from the jump. The BNB coin traded at its support level of $230.2, following which the market gained momentum and the price jumped approximately 11% in value. 
After this, the price traded in a closed range between $247.2 and $255.5 for a while, following which the price lost momentum and recorded a correction of 8.5%. The BNB coin price retested its resistance level of $238.3, after which the bulls regained momentum and jumped over 14%. 
Since then, the price has been trading sideways in a range between $264.8 and $272. Recently, the bulls gained momentum to break out the resistance level, indicating a rise in the bullish influence. 
<h2 class="wp-block-heading" id="h-will-bnb-coin-price-go-back-up">Will BNB Coin Price Go Back Up?</h2> 
The technical indicator, MACD, displays a rising histogram, indicating an increase in the buying pressure. Further, the averages show a bullish convergence, highlighting the price will experience significant price action soon. 
If the market holds the price above the support level of $280.7, the bulls will regain momentum and test its resistance level of $290. Maintaining the price at that level will set the stage for BNB price to attempt to test its upper resistance level of $300 by the coming week. 
Conversely, if the bears overpowered the bulls, the price would lose momentum and prepare to test its support level of $264.8. Moreover, if the bears continue to dominate the market, it will plunge and test its lower support level of $255.5.

Binance Coin Price Is Experiencing Break Out Rally! BNB Price To Hit $300 Soon?

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