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BNB Pumps Above $300, Bulls Aim For New All-Time High

Stefan by Stefan
01/04/2021
in Binance Coin News
Reading Time: 2 mins read
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BNB Chain Burned More, binance, exchange, zhao
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BNB pumps above the $300 range with the price starting a fresh rally above the $280 resistance against the USDT with the coin trading above the $300 range and could continue to rise towards $400 so let’s read more in our latest Binance coin news today.

Binance coin started rallying higher than $280 resistance levels against the USDT and now the price is trading well above the $280 and the 100 simple moving average. There’s also a major bullish trend line that is forming with support near $290 on the 4-hour charts of the pair that can resume the upwards move above $315 resistance in the near term.

BNBUSDT
Source BNBUSDT on TradingView.com

After forming a base above $220, BNB pumps above $300 and broke the main resistance after it surpassed the $275 pivot level. The bulls were able to lead the price higher than the $280 barrier and the 100 simple moving average and as a result, there was a break above the $300 level with the price trading to a new monthly high while correcting gains. It broke the $305 support level and a new break below the 23.6% fib retracement level from the move of $269 low to $317 high. On the downside, the first major support is getting closer to the $290 level and it is close to the 50% fib retracement level of the upwards move from $269 low to $317 high. There’s a major bullish trend line that is forming with the support near $290 on the 4-hour charts of the pair.

BNB price
BNB 24-hour Price Chart (Source: Coingecko)

The upside resistance that the bulls are facing is near $320 with the next major one being near $340 above which the price could set a new all-time high in the near term. If BNB fails to continue higher above $315 there will be more downside corrections with the first support nearing $295. If there’s another downside break below the trend line support, there will be a drop towards $280 with the next major support being set at $290.

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As recently reported, 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.

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DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Tags: binance coinbinance coin analysisbinance coin pumpbnb pumpsnew all time high
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Stefan

Stefan

Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.

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