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.
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.
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.
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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