BNB Price Starts Its Journey Toward $500, Why Dips Turned Attractive

BNB worth is gaining bullish momentum above the $350 resistance. The value appears set for extra positive aspects above the $400 resistance within the close to time period.

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

BNB Worth Extends Improve

Within the final BNB price prediction, we mentioned the possibilities of extra positive aspects above the $365 resistance zone. The bulls did stay energetic and had been in a position to push the worth above the $375 degree.

BNB outperformed Bitcoin and Ethereum with a transfer above the $380 resistance. A excessive was shaped close to $390 and the worth is now consolidating positive aspects. It’s buying and selling above the 23.6% Fib retracement degree of the upward transfer from the $345 swing low to the $390 excessive.

The value is now buying and selling above $375 and the 100 easy transferring common (4 hours). There’s additionally a key bullish pattern line forming with assist at $380 on the 4-hour chart of the BNB/USD pair.

Supply: BNBUSD on TradingView.com

Speedy resistance is close to the $390 degree. The following resistance sits close to the $392 degree. A transparent transfer above the $392 zone may ship the worth additional greater. Within the acknowledged case, BNB worth may take a look at $400. A detailed above the $400 resistance would possibly set the tempo for a bigger enhance towards the $422 resistance. Any extra positive aspects would possibly name for a take a look at 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. Preliminary assist on the draw back is close to the $380 degree and the pattern line.

The following 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 principle assist sits at $350. If there’s a draw back break under the $350 assist, the worth 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 Power Index) – The RSI for BNB/USD is at present above the 50 degree.

Main Assist Ranges – $380, $362, and $350.

Main Resistance Ranges – $390, $400, and $422.

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