Charted: Binance Coin (BNB) Trades To Record High At $175, $200 Still Possible


Binance Coin

A coin is a unit of digital value. When describing cryptocurrencies, they are built using the bitcoin technology and have no other value unlike tokens which have the potential of software being built with them.

» Read more

” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin price is up over 20% and it is outperforming bitcoin against the USDT. BNB rallied above $150 and traded to a new all-time high at $176.

How To Get Free Crypto  
  • Binance Coin
    A coin is a unit of digital value. When describing cryptocurrencies, they are built using the bitcoin technology and have no other value unlike tokens which have the potential of software being built with them.

    » Read more

    ” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin price is gaining bullish momentum above the $150 level against the USDT.

  • The price is up over 20% and it traded to a new all-time high near $176.
  • There was a break above a major bearish trend line with resistance near $130 on the 4-hours chart of the BNB/USDT pair (data source from Binance).
  • There could be a short-term downside correction, but the bulls are likely to protect $150.

Binance Coin

A coin is a unit of digital value. When describing cryptocurrencies, they are built using the bitcoin technology and have no other value unlike tokens which have the potential of software being built with them.

» Read more

” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>Coin Price Rallies 20%

In the past few days, bitcoin, Ethereum, and binance Coin

A coin is a unit of digital value. When describing cryptocurrencies, they are built using the bitcoin technology and have no other value unlike tokens which have the potential of software being built with them.

» Read more

” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin extended their gains. BNB price formed a support base above the $120 level and started another strong upward move.

The price cleared the $150 resistance level and settled well above the 100 simple moving average (4-hours). There was also a break above a major bearish trend line with resistance near $130 on the 4-hours chart of the BNB/USDT pair.

Coinbase Banner  
[speaker-mute]

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

[/speaker-mute]

The pair rallied over 20% and it even spiked above the $175 level. A new all-time high is formed near $176 and the price is currently consolidating gains. It is testing the 23.6% Fib retracement level of the upward move from the $126 swing low to $176 high.

Source: BNBUSDT on TradingView.com

The next major support is near the $150 zone (the recent breakout zone). It is close to the 50% Fib retracement level of the upward move from the $126 swing low to $176 high.

Therefore, dips towards the $150 level could find a strong buying interest in the near term. Any more losses may possibly open the doors for a push towards the $125 support level.

FreeBitcoin Banner  

More Upsides in BNB?

If BNB remains stable above $150, it could continue to rise. An initial resistance on the upside is near the $175 zone or the $176 high.

A clear break above $175 and $176 is likely to clear the path for another 10%-15% rally. In the stated case, the price is likely to hit the $200 level in the coming sessions.

Technical Indicators

4-Hours MACD – The MACD for BNB/USDT is gaining momentum in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for BNB/USDT is currently well in the overbought zone.

Major Support Levels – $160, $150 and $125.

Major Resistance Levels – $175, $180 and $200.

Go to Source
Author: Aayush Jindal


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.