BNB Price Momentum Reignites – Why Bulls Could Aim For 15% Rally

Name	Symbol	Market	Market Cap ($)	Algorithm
Binance Coin	BNBUSD	Crypto	92,701,812,648	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Binance Coin

BNBUSD

Crypto

92,701,812,648

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	5.71	0.98%	586.78	585.62	588.69

Price Change

Price Change %

Current Price

Bid Price

Offer

5.71

0.98%

586.78

585.62

588.69

High Price	Low Price	Open Price	Prev. Close	52 Week Range
589.07	577.96	581.06	581.06	210.00 - 720.47

High Price

Low Price

Open Price

Prev. Close

52 Week Range

589.07

577.96

581.06

210.00 - 720.47

Exchange	Last Trade	Size	Trade Price	Currency
BINA	12:51:37	0.018000	586.78	USD

Exchange

Last Trade

Size

Trade Price

Currency

BINA

12:51:37

0.018000

586.78

USD

Price x Volume	Volume	Base Symbol	Related Pairs
7,656,809.60	13,064.15	BNB	BNBEUR	BNBGBP	BNBBTC

Price x Volume

Volume

Base Symbol

Related Pairs

7,656,809.60

13,064.15

BNB Price Momentum Reignites – Why Bulls Could Aim For 15% Rally

21/11/2023 4:52am

NEWSBTC

BNB price gained momentum and climbed above the $250 resistance. It is up over 5% and the bulls could soon aim for a move toward the $300 level. BNB price is moving higher above the $250 resistance. The price is now trading above $255 and the 100 simple moving average (4 hours). There is a major bullish trend line forming with support at $253.5 on the 4-hour chart of the BNB/USD pair (data source from Binance). The pair might continue to move up if there is a clear move above $268. BNB Price Jumps 8% These past few days, BNB price remained stable above the $240 resistance. The bulls stepped in and were able to clear a major hurdle at $250. It opened the doors for more upsides above $255. BNB gained traction and climbed above $260. It is up over 5% and outperforming both Bitcoin and Ethereum. A new multi-week high is formed near $267.9 and the price is now consolidating gains. It is above the 23.6% Fib retracement level of the upward move from the $238.9 swing low to the $267.9 high. BNB is also trading above $255 and the 100 simple moving average (4 hours). Besides, there is a major bullish trend line forming with support at $253.5 on the 4-hour chart of the BNB/USD pair. Source: BNBUSD on TradingView.com If there is a fresh increase, the price could face resistance near the $265 level. The next resistance sits near the $268 level. A clear move above the $268 zone could send the price further higher. In the stated case, BNB price could test $280. A close above the $280 resistance might set the pace for a larger increase toward the $300 resistance. Downside Correction? If BNB fails to clear the $265 resistance, it could start a downside correction. Initial support on the downside is near the $260 level. The next major support is near the $255 level. The main support sits at $253 or the trend line. It is close to the 50% Fib retracement level of the upward move from the $238.9 swing low to the $267.9 high. If there is a downside break below the $253 support, the price could drop toward the $245 support. Any more losses could initiate a larger decline toward the $238 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 – $260, $255, and $253. Major Resistance Levels – $265, $268, and $280.

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BNBUSD Binance Coin