Rally

Bitcoin

Resistance

BNB price is attempting a fresh increase from the $288 zone. The price could start a fresh rally if there is a clear move above the $310 resistance. 
<ul> 
 <li>BNB price is showing bullish signs above the $300 pivot level.</li> 
 <li>The price is now trading below $310 and the 100 simple moving average (4 hours).</li> 
 <li>There is a key bearish trend line forming with resistance near $306 on the 4-hour chart of the BNB/USD pair (data source from Binance).</li> 
 <li>The pair gather bullish momentum if there is a close above the $308-$310 resistance zone.</li> 
</ul> 
<h2 id="bnb-price-eyes-fresh-rally">BNB Price Eyes Fresh Rally</h2> 
In the past few days, BNB price started a decent increase and cleared the $300 resistance zone, unlike <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-stuck-range-42250/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-bears-keep-pushing-2325/" target="_blank" rel="noopener ">Ethereum</a>. There was a move above the $305 level before the bears appeared. 
A high was formed near $313 and the price recently started a downside correction. There was a move below the $308 level. The price declined below the 50% Fib retracement level of the upward move from the $287 swing low to the $313 high. 
BNB is now consolidating near $305 and the 100 simple moving average (4 hours). Immediate resistance is near the $308 level. There is also a key bearish trend line forming with resistance near $306 on the 4-hour chart of the BNB/USD pair. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/02/Binance-Coin-BNB.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-573322" src="https://www.newsbtc.com/wp-content/uploads/2024/02/Binance-Coin-BNB.png?resize=1024%2C461" alt="BNB Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/02/Binance-Coin-BNB.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/02/Binance-Coin-BNB.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/02/Binance-Coin-BNB.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/02/Binance-Coin-BNB.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/02/Binance-Coin-BNB.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/02/Binance-Coin-BNB.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/02/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> 
The next resistance sits near the $310 level. A clear move above the $310 zone could send the price further higher. In the stated case, BNB price could test $320. A close above the $320 resistance might set the pace for a larger increase toward the $335 resistance. Any more gains might call for a test of the $350 level. 
<h2 id="another-decline">Another Decline?</h2> 
If BNB fails to clear the $310 resistance, it could continue to move down. Initial support on the downside is near the $300 level. The next major support is near the $292 level or the 76.4% Fib retracement level of the upward move from the $287 swing low to the $313 high. 
The main support sits at $288. If there is a downside break below the $288 support, the price could drop toward the $275 support. Any more losses could initiate a larger decline toward the $262 level. 
Technical Indicators 
4-Hours MACD – The MACD for BNB/USD is losing 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 – $308, $310, and $320.

BNB Price Increase To Continue? This Resistance Could Trigger Fresh Rally

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