Ethereum

Rally

Bitcoin

Resistance

BNB price is gaining bullish momentum above the $550 resistance. The price is showing positive signs and might extend its rally above $650. 
<ul> 
 <li>BNB price is up over 15% and it broke the $600 resistance zone.</li> 
 <li>The price is now trading above $580 and the 100 simple moving average (4 hours).</li> 
 <li>There is a key bullish trend line forming with support at $598 on the 4-hour chart of the BNB/USD pair (data source from Binance).</li> 
 <li>The pair could continue to rise toward the $650 resistance zone or even $700.</li> 
</ul> 
<h2 id="bnb-price-extends-rally">BNB Price Extends Rally</h2> 
In the last BNB price prediction, we discussed the chances of more gains above the <a href="https://www.newsbtc.com/analysis/bnb/bnb-price-zooms-450/" target="_blank" rel="noopener ">$500 resistance zone</a>. The price continued to rise and broke many hurdles near the $550 level. 
BNB is now outperforming Bitcoin and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-hurdles-4000/" target="_blank" rel="noopener ">Ethereum</a> with a move above the $580 resistance. It is up over 10% today and trading above $600. A high was formed near $633 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $364 swing low to the $633 high. 
The price is now trading above $600 and the 100 simple moving average (4 hours). Immediate resistance is near the $625 level. The next resistance sits near the $635 level. A clear move above the $635 zone could send the price further higher. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/03/Binance-Coin-BNB-1.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-597802" src="https://www.newsbtc.com/wp-content/uploads/2024/03/Binance-Coin-BNB-1.png?resize=1024%2C461" alt="BNB Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/03/Binance-Coin-BNB-1.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/03/Binance-Coin-BNB-1.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/03/Binance-Coin-BNB-1.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/03/Binance-Coin-BNB-1.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/03/Binance-Coin-BNB-1.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/03/Binance-Coin-BNB-1.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/03/Binance-Coin-BNB-1.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 $650. A close above the $650 resistance might set the pace for a larger increase toward the $700 resistance. Any more gains might call for a test of the $780 level in the coming days. 
<h2 id="dips-limited">Dips Limited?</h2> 
If BNB fails to clear the $635 resistance, it could start a downside correction. Initial support on the downside is near the $600 level and the trend line. 
The next major support is near the $570 level. The main support sits at $500 or the 50% Fib retracement level of the upward move from the $364 swing low to the $633 high. If there is a downside break below the $500 support, the price could drop toward the $450 support. Any more losses could initiate a larger decline toward the $420 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 – $600, $570, and $500. 
Major Resistance Levels – $635, $650, and $700.

BNB Price Breaks $600, Why Bulls Could Now Aim New ATH

目录

NewsBTC

发布于 2024年3月14日的其他文章

Analyst Who Tracks Every Bitcoin Move Warns Investors About These 3 Altcoins

Unveiling the Future of AI: Tau’s Logical AI Evidences a New Era

Bitcoin halving not priced in to ‘full extent’ — D8X founder

What is Snek (SNEK)? How to Buy SNEK Token?

Meme Coins Linked With Its Underlying Network Growth: Franklin Templeton

Top Trends: 5 Cryptocurrencies Shining with Significant Uptrends

订阅我们免费的电子期刊，获取每日最新加密领域动态！