Rally

Bitcoin

Resistance

BNB price is holding gains above the $300 pivot level. It is showing positive signs and might rally toward the $350 resistance zone. 
<ul> 
 <li>BNB price is moving higher above the $300 resistance.</li> 
 <li>The price is now trading near $310 and the 100 simple moving average (4 hours).</li> 
 <li>There is a key declining channel or a bullish flag pattern forming with resistance near $325 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 $315 and $325</li> 
</ul> 
<h2 id="bnb-price-aims-higher">BNB Price Aims Higher</h2> 
After a major increase, BNB price faced resistance near the $340 zone. The price started a downside correction and recently tested the $290 zone. A low was formed near $289, and the price is now attempting a fresh increase, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-struggles-below-48k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-holds-ground-2580/" target="_blank" rel="noopener ">Ethereum</a>. 
There was a move above the $295 and $300 levels. The bulls pushed the price above the 50% Fib retracement level of the downward move from the $332 swing high to the $289 low. BNB is now trading near $310 and the 100 simple moving average (4 hours). 
The current price action is positive and signals more upsides. Immediate resistance is near the $315 level. It is close to the 61.8% Fib retracement level of the downward move from the $332 swing high to the $289 low. 
The next resistance sits near the $322 level. There is also a key declining channel or a bullish flag pattern forming with resistance near $325 on the 4-hour chart of the BNB/USD pair. A clear move above the $225 zone could send the price further higher. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/01/Binance-Coin-BNB.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-569194" src="https://www.newsbtc.com/wp-content/uploads/2024/01/Binance-Coin-BNB.png?resize=1024%2C461" alt="BNB Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/01/Binance-Coin-BNB.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/01/Binance-Coin-BNB.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/01/Binance-Coin-BNB.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/01/Binance-Coin-BNB.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/01/Binance-Coin-BNB.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/01/Binance-Coin-BNB.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/01/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> 
In the stated case, BNB price could test $340. A close above the $340 resistance might set the pace for a larger increase toward the $350 resistance. Any more gains might call for a test of the $375 level. 
<h2 id="downside-correction">Downside Correction?</h2> 
If BNB fails to clear the $322 resistance, it could start a downside correction. Initial support on the downside is near the $300 level. 
The next major support is near the $292 level. The main support sits at $288. If there is a downside break below the $288 support, the price could drop toward the $262 support. Any more losses could initiate a larger decline toward the $250 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 – $300, $292, and $288. 
Major Resistance Levels – $315, $322, and $325.

BNB Price Prediction – Why Bulls Could Aim Fresh Rally To $350

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