BNB terms is inactive consolidating supra the $200 enactment portion against the US Dollar. It could commencement a decent summation if determination is simply a adjacent supra the $220 resistance.
- BNB terms is dilatory moving higher toward the $220 absorption against the US Dollar.
- The terms is present trading supra $210 and the 100 elemental moving mean (4 hours).
- There is simply a cardinal bullish inclination enactment forming with enactment adjacent $211.5 connected the 4-hour illustration of the BNB/USD brace (data root from Binance).
- The brace mightiness summation bullish momentum if determination is simply a regular adjacent supra $220.
BNB Price Remains In A Range
This past week, BNB terms again retested the $200-$202 enactment zone. The bears made different effort to wide the cardinal $200 support, but they failed. A debased was formed adjacent $203 earlier the terms started a decent increase, similar Bitcoin and Ethereum.
There was a determination supra the $210 and $212 levels. The terms tested the main $220 resistance. A precocious is formed adjacent $219.2 and the terms is present consolidating supra the 50% Fib retracement level of the upward determination from the $203 plaything debased to the $220 high.
BNB is present trading supra $210 and the 100 elemental moving mean (4 hours). There is besides a cardinal bullish inclination enactment forming with enactment adjacent $211.5 connected the 4-hour illustration of the BNB/USD pair.
Source: BNBUSD connected TradingView.com
If determination is simply a caller increase, the terms could look absorption adjacent the $215.5 level. The adjacent absorption sits adjacent the $220 level. A wide determination supra the $220 portion could nonstop the terms further higher. In the stated case, BNB terms could trial $235. A adjacent supra the $235 absorption mightiness acceptable the gait for a larger summation toward the $250 resistance.
More Losses?
If BNB fails to wide the $220 resistance, it could commencement different decline. Initial enactment connected the downside is adjacent the $211 level and the inclination line. The adjacent large enactment is adjacent the $207 level oregon the 76.4% Fib retracement level of the upward determination from the $203 plaything debased to the $220 high.
If determination is simply a downside interruption beneath the $207 support, the terms could driblet toward the $202 support. Any much losses could initiate a larger diminution toward the $185 level.
Technical Indicators
4-Hours MACD – The MACD for BNB/USD is losing gait successful the bearish zone.
4-Hours RSI (Relative Strength Index) – The RSI for BNB/USD is presently supra the 50 level.
Major Support Levels – $211, $207, and $202.
Major Resistance Levels – $215, $220, and $222.
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