BNB Price Prediction – Bears Struggle, Will Price Finally Cross $220? - ADVFN

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Binance Coin (Cryptocurrency:BNBUSD) News

Name	Symbol	Market	Market Cap ($)	Algorithm
Binance Coin	BNBUSD	Crypto	92,808,540,903	Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	7.06	1.21%	588.12	587.78	588.12

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

Exchange	Last Trade	Size	Trade Price	Currency
BINA	13:20:18	0.200000	588.12	USD

Price x Volume	Volume	Base Symbol	Related Pairs
8,083,811.80	13,744.99	BNB	BNBEUR	BNBGBP	BNBBTC

BNB Price Prediction – Bears Struggle, Will Price Finally Cross $220?

18/10/2023 5:58am

NEWSBTC

BNB price is still consolidating above the $200 support zone against the US Dollar. It could start a decent increase if there is a close above the $220 resistance. BNB price is slowly moving higher toward the $220 resistance against the US Dollar. The price is now trading above $210 and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support near $211.5 on the 4-hour chart of the BNB/USD pair (data source from Binance). The pair might gain bullish momentum if there is a daily close above $220. BNB Price Remains In A Range This past week, BNB price again retested the $200-$202 support zone. The bears made another attempt to clear the key $200 support, but they failed. A low was formed near $203 before the price started a decent increase, like Bitcoin and Ethereum. There was a move above the $210 and $212 levels. The price tested the main $220 resistance. A high is formed near $219.2 and the price is now consolidating above the 50% Fib retracement level of the upward move from the $203 swing low to the $220 high. BNB is now trading above $210 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $211.5 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 $215.5 level. The next resistance sits near the $220 level. A clear move above the $220 zone could send the price further higher. In the stated case, BNB price could test $235. A close above the $235 resistance might set the pace for a larger increase toward the $250 resistance. More Losses? If BNB fails to clear the $220 resistance, it could start another decline. Initial support on the downside is near the $211 level and the trend line. The next major support is near the $207 level or the 76.4% Fib retracement level of the upward move from the $203 swing low to the $220 high. If there is a downside break below the $207 support, the price could drop toward the $202 support. Any more losses could initiate a larger decline toward the $185 level. Technical Indicators 4-Hours MACD – The MACD for BNB/USD is losing pace in the bearish zone. 4-Hours RSI (Relative Strength Index) – The RSI for BNB/USD is currently above the 50 level. Major Support Levels – $211, $207, and $202. Major Resistance Levels – $215, $220, and $222.

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