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BNB worth continues to be consolidating above the $200 help zone in opposition to the US Dollar. It may begin a good improve if there’s a shut above the $220 resistance.

• BNB worth is slowly transferring greater towards the $220 resistance in opposition to the US Dollar.
• The worth is now buying and selling above $210 and the 100 easy transferring common (4 hours).
• There is a key bullish pattern line forming with help close to $211.5 on the 4-hour chart of the BNB/USD pair (knowledge supply from Binance).
• The pair may acquire bullish momentum if there’s a every day shut above $220.

BNB Price Remains In A Range

This previous week, BNB worth once more retested the $200-$202 help zone. The bears made one other try to clear the important thing $200 help, however they failed. A low was fashioned close to $203 earlier than the value began a good improve, like Bitcoin and Ethereum.

There was a transfer above the $210 and $212 ranges. The worth examined the primary $220 resistance. A excessive is fashioned close to $219.2 and the value is now consolidating above the 50% Fib retracement degree of the upward transfer from the $203 swing low to the $220 excessive.

BNB is now buying and selling above $210 and the 100 easy transferring common (4 hours). There can be a key bullish pattern line forming with help close to $211.5 on the 4-hour chart of the BNB/USD pair.

Source: BNBUSD on TradingView.com

If there’s a recent improve, the value may face resistance close to the $215.5 degree. The subsequent resistance sits close to the $220 degree. A transparent transfer above the $220 zone may ship the value additional greater. In the acknowledged case, BNB worth may check $235. An in depth above the $235 resistance may set the tempo for a bigger improve towards the $250 resistance.

More Losses?

If BNB fails to clear the $220 resistance, it may begin one other decline. Initial help on the draw back is close to the $211 degree and the pattern line. The subsequent main help is close to the $207 degree or the 76.4% Fib retracement degree of the upward transfer from the $203 swing low to the $220 excessive.

If there’s a draw back break under the $207 help, the value may drop towards the $202 help. Any extra losses may provoke a bigger decline towards the $185 degree.

Technical Indicators

4-Hours MACD – The MACD for BNB/USD is shedding tempo within the bearish zone.

4-Hours RSI (Relative Strength Index) – The RSI for BNB/USD is at the moment above the 50 degree.

Major Support Levels – $211, $207, and $202.

Major Resistance Levels – $215, $220, and $222.