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BNB worth is gaining bullish momentum above the $350 resistance. The worth seems to be set for extra beneficial properties above the $400 resistance within the close to time period.

• BNB worth is exhibiting bullish indicators above the $365 resistance degree.
• The worth is now buying and selling above $375 and the 100 easy shifting common (4 hours).
• There is a key bullish development line forming with assist at $380 on the 4-hour chart of the BNB/USD pair (knowledge supply from Binance).
• The pair may proceed to rise towards the $400 resistance zone and even $422.

BNB Price Extends Increase

In the final BNB price prediction, we mentioned the possibilities of extra beneficial properties above the $365 resistance zone. The bulls did stay lively and have been capable of push the value above the $375 degree.

BNB outperformed Bitcoin and Ethereum with a transfer above the $380 resistance. A excessive was fashioned close to $390 and the value is now consolidating beneficial properties. It is buying and selling above the 23.6% Fib retracement degree of the upward transfer from the $345 swing low to the $390 excessive.

The worth is now buying and selling above $375 and the 100 easy shifting common (4 hours). There can be a key bullish development line forming with assist at $380 on the 4-hour chart of the BNB/USD pair.

Source: BNBUSD on TradingView.com

Immediate resistance is close to the $390 degree. The subsequent resistance sits close to the $392 degree. A transparent transfer above the $392 zone may ship the value additional larger. In the said case, BNB worth may check $400. An in depth above the $400 resistance may set the tempo for a bigger enhance towards the $422 resistance. Any extra beneficial properties may name for a check of the $500 degree within the coming weeks.

Dips Supported?

If BNB fails to clear the $390 resistance, it may begin a draw back correction. Initial assist on the draw back is close to the $380 degree and the development line.

The subsequent main assist is close to the $362 degree or the 61.8% Fib retracement degree of the upward transfer from the $345 swing low to the $390 excessive. The foremost assist sits at $350. If there’s a draw back break under the $350 assist, the value may drop towards the $335 assist. Any extra losses may provoke a bigger decline towards the $315 degree.

Technical Indicators

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

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

Major Support Levels – $380, $362, and $350.

Major Resistance Levels – $390, $400, and $422.

Disclaimer: The article is offered for academic functions solely. It doesn’t signify the opinions of NewsBTC on whether or not to purchase, promote or maintain any investments and naturally investing carries dangers. You are suggested to conduct your individual analysis earlier than making any funding selections. Use info offered on this web site completely at your individual threat.