BNB Price Gearing For Another Lift-Off to $300: Rally Isn't Over Yet

CRYPTO_HIGHLIGHT BNB CRYPTO_NEWS

BNB price (Binance coin) found support near $240 against the US Dollar. BNB rallied above $260 and might aim more upsides towards the $300 level. Binance coin price started a recovery wave from the $240 support against the US Dollar. 

 

The price is now trading above $265 and the 100 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near $250 on the 4-hours chart of the BNB/USD pair (data source from Binance). The pair could is rising and might climb further above the $280 resistance zone. Binance Coin Price Climbs Higher This past week, BNB price formed a support base above the $240 level. There was a strong recovery wave started above the $250 resistance zone. 

 

There was a break above a major bearish trend line with resistance near $250 on the 4-hours chart of the BNB/USD pair. The pair gained pace above the $255 and $260 resistance levels. Yesterday, there was a push above the $270 resistance zone, similar to bitcoin and ethereum. BNB traded as high as $283 and is currently consolidating gains. It is now trading above $265 and the 100 simple moving average (4-hours). It is also near the 23.6% Fib retracement level of the upward move from the $240 swing low to $283 high. Source: BNBUSD on TradingView.com On the upside, the bears are protecting the $280 and $285 resistance levels. 

 

The next major resistance is near the $292 level, above which the price is likely to aim a test of the $300 level in the near term. Any more gains might send the price towards the $320 level. Dips Supported in BNB? If BNB fails to clear the $280 resistance, it could start a downside correction. An initial support on the downside is near the $265 level. The first major support is near the $262 level. It is near the 50% Fib retracement level of the upward move from the $240 swing low to $283 high. The next major support is near the $255 level. If there is a downside break below the $255 support, there could be an extended decline towards the $240 support. Technical Indicators 4-Hours MACD – The MACD for BNB/USD is gaining pace in the bullish zone. 4-Hours RSI (Relative Strength Index) – The RSI for BNB/USD is currently above the 50 level. Major Support Levels – $265, $262 and $255. Major Resistance Levels – $280, $285 and $300. 

 

Source : [BNB Price Gearing For Another Lift-Off to $300: Rally Isn't Over Yet](news.google.com/__i/rss/rd/articles/CBMiO2h0dHBzOi8vbmV3c2J0Yy5jb20vYW5hbHlzaXMvYm5iL2JuYi1wcmljZS1saWZ0LW9mZi10by0zMDAv0gE_aHR0cHM6Ly9uZXdzYnRjLmNvbS9hbmFseXNpcy9ibmIvYm5iLXByaWNlLWxpZnQtb2ZmLXRvLTMwMC9hbXAv?oc=5) undefined - newsbtc.com / January 10, 2023

Join our 70k+
tribe of Akters

Have any questions?

Check our Q&A

About the AKTIO coin

Benefit fully from our ecosystem

What’s new in the App?

We’re adding new features

Customer support

support@akt.io

+353 1 574 7382

+39 06 4525 6900

Opening hours:

Monday to Friday: 9am - 5pm CET

Learn

News

Glossary

AKT Academy

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata ICO Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma

Italy

Automata Pay Ltd, Reg number 12208424 and incorporated in the United Kingdom is the registered agent of Modulr FS Limited, a company registered in England with company number 09897919, authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution (Firm Reference Number: 900573). Traditional currency will be safeguarded by a licensed bank in segregated accounts in accordance with regulatory requirements.

Automata Pay Europe Limited, Reg number 69028 and incorporated in Ireland is the registered agent of Modulr FS Europe Limited, a company registered in Ireland with company number 638002, authorised and regulated by the Central Bank of Ireland as an Electronic Money Institution (Institution Code C191242). Traditional currency is safeguarded as e-money in accordance with our regulatory obligations. Traditional currency will be safeguarded by a licensed bank in segregated accounts in accordance with regulatory requirements.

Automata ICO Limited, Reg number 690280 and incorporated in Ireland has applied for a Virtual Asset Service Provider registration with the Central Bank of Ireland. Whilst the application is ongoing we are permitted to continue business as a Virtual Asset Service Provider in line with the Central Bank of Ireland's regulatory disclosure statement as required under section 106L of the CJA 2010 in relation to registered VASPS. It is important to note that a registration as a VASP is a registration for Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CFT) purposes only. While Automata ICO Limited does have certain financial crime control obligations under this registration, cryptoasset services remain largely unregulated. The Financial Ombudsman Service or the Financial Services Compensation Scheme do not apply to the cryptoasset activities carried on by Automata ICO Limited.