• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
Binance Coin (BNB)
Sensei Inu Logo

Charted: Binance Coin (BNB) Steadies Above $200, Why It Could Rally Again

Aayush Jindal by Aayush Jindal
3 years ago
in BNB
Reading Time: 2 mins read

Binance coin price corrected sharply lower towards the $200 support against the USDT. BNB is consolidating and it is likely to rally again above $250 and $280.

  • Binance coin price started a strong decline from a new all-time high at $348 against the USDT.
  • The price declined over $100, but it remained stable above the 100 simple moving average (4-hours).
  • There is a major contracting triangle pattern forming with resistance near $250 on the 4-hours chart of the BNB/USDT pair (data source from Binance).
  • The pair could start another rally if there is a clear break above $250 and $280.

Binance Coin Price Holding Key Support

There was an upside extension in binance coin above the $250 and $300 levels. BNB price even broke the $320 level and traded to a new all-time high at $348.

Recently, there was a sharp decline in bitcoin, ethereum, and altcoins. BNB also corrected lower sharply and broke a couple of important support at $300. It even broke the $250 support level and spiked below the $200 zone.

A low was formed near $187 before there was a strong recovery. The price climbed above $250, but it failed to gain strength for a push above $300. A high is formed near $280 and the price is currently consolidating. It traded below the 50% Fib retracement level of the recent wave from the $187 swing low to $280 high.

Binance Coin Price

Source: BNBUSDT on TradingView.com

An initial support is near the $225 level. It is close to the 61.8% Fib retracement level of the recent wave from the $187 swing low to $280 high. It seems like there is a major contracting triangle pattern forming with resistance near $255 on the 4-hours chart of the BNB/USDT pair.

A clear upside break above the triangle resistance and $260 could open the doors for a fresh increase. The next key resistance is near the $280 level. The main barrier is at $300, above which the price could surge towards $350.

Dips Supported in BNB?

If BNB fails to continue higher above $255 and $260, there could be a fresh downside correction. The first major support is near the $225 level.

The next major support is near the $210 level or the triangle trend line. A downside break below the triangle support and $200 might call for a sharp decline towards the $150 support.

Technical Indicators

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

4-Hours RSI (Relative Strength Index) – The RSI for BNB/USDT is currently close to the 50 level.

Major Support Levels – $225, $210 and $200.

Major Resistance Levels – $250, $260 and $280.

Tags: Binance CoinBNBBNBUSDbnbusdt
Tweet123Share196ShareSend
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies, and Financial Market Strategist. He specializes in market strategies and technical analysis and has spent over 15 years as a financial markets contributor and observer. He also founded an IT company and works rigorously in providing high-quality software services. Aayush possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin, and Ethereum markets. Follow him on Twitter @AayushJs.

Related Posts

Binance Coin (BNB)

BNB Price Prediction – Poised For Bullish Breakout Unless This Changes

2 weeks ago
Bitcoin Crypto Market Altcoins BCH ETH XRP BNB ADA TRX EOS

BNB Price Topside Bias Vulnerable If It Continues To Struggle Below $225

4 weeks ago
BNB price (Binance coin)

BNB Price Prediction: Recovery To $235 On The Horizon As Bulls Step In

1 month ago
BNB Price Prediction

BNB Price Prediction: Why Bulls Could Aim Recovery To $230

1 month ago
Binance BTC BNB

Is Binance Really Selling Bitcoin To Prop The Price Of BNB?

1 month ago
BNB Price Prediction

BNB Price Consolidates Below $250: What Could Trigger A Fresh Increase

2 months ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • The Next Bull Run Is Approaching, Follow The Smart Money...

    6 hours ago
  • Index CFDs: Experts Have Conducted A Comprehensive Study In...

    8 hours ago
  • Unbelievable: Tradecurve (TCRV) Skyrockets, Leaving...

    10 hours ago
  • Microsoft’s AI Reveals the Holy Trinity of Profit...

    11 hours ago
  • Investing in Trading 212: Is the Risk Worth the Reward?

    2 days ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.