Binance coin regains power with the bulls aiming for a $300 price range and the price starting a new rally above $250 and the USDT so BNB is currently gaining momentum and will clear the barrier in the near-term so let’s focus some more on our latest Binance coin news today.
The price is now trading well above the $260 and the 100 simple moving average as the Binance coin regains power with the key bullish trend line forming near the $245 level on the 4-hour charts and the pair could soon resume its upward move above $290 resistance in the near-term. After forming a base above $200, BNB started a fresh increase with the price breaking the $220 resistance and surpassing the main $250 resistance zone.
It then opened the doors for a rally above $285 resistance levels with the price trading as high as $297 and correcting lower. BNB declined below the 23.6% fib retracement level from the upwards move at $214 low to $297 high. The coin is still trading well above $260 and the 100 simple moving average with the bulls protecting the $265 level and the $260 levels as well and the major support is near the $255 level, with it being close to the 50% fib retracement level from the upwards move of $214 low to $295 high. There’s also a key bullish trend line forming with the support of $245 on the 4-hour charts of the pair while on the upside, the bulls face a new resistance near the $285 and the $290 levels. The main resistance here is still at $300 above which the price will speed up higher in the near-term.
If BNB fails to continue higher above the $285 and the $295 level there will be a fresh downside correction with the first major support being near the $255 level. The 4-hour MACD for the pair is gaining pace in the bullish zone while the 4-hour RSI is now well above the 50 levels and the major support level is set at $265, $255, and $245. The major resistance levels are set at $285, $295, and $300.
As recently reported, The surge in the price and corresponding FOMO caused BNB to climb the top ten assets by market cap and Binance coin climbs above tether for the third spot and this is a very important step for the exchange’s token. BNB is having a record-setting month so far and February is still not done but the coin recorded its largest candle in history. BNB closed at $200 per coin within 24 hours with the token already surging at another $100 higher.
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