BNB’s bulls are not done yet with the coin surging to the $250 level as the price increased over 35% and extended its rally above $200 against the USDT. BNB traded to a new high of $238 and now there are even more chances of upsides so let’s take a closer look at our latest Binance Coin news.
BNB seems to be extending its rally above $200 resistance levels against the USDT and the price traded to a new all-time high of $175 and $200 against the US dollar. The price traded to a new all-time high of $238 and settled well above the 100 simple moving average with a break above a couple of bullish continuation patterns of $200 on the 4-hour charts of the pair. There’s also a consolidating gain movement and will likely surge higher than $250.
In the past few days, BNB gained a strong bullish momentum above the $100 level with the coin outperforming BTC and ETH with huge gains. It even broke the $175 resistance and in the meantime, there was a break above the few bullish continuation patterns of $170 and $200 on the 4-hour charts of the pair that is surged above $200. BNB traded to a new all-time high of $238 and settled well above the 100 simple moving average and the coin is now correcting the gains and it is testing the $225 level.
The 23.6% fib retracement level from the recent rally of $189 swing low to $238 high is acting as strong support so if there are more losses, the price could drop to $210. However, BNB’s bulls are not done yet with the major resistance level remaining set at $250, and breaking above it will most likely open the doors for a new increase to $285 and $300 levels in the near-term. If BNB fails to continue higher to $250, there could be a new correction to the downside with the first one being set at the $225 level.
The next major support is close to the $210 level and it is close to the 50% fib retracement level from the rally at $189 low to $238 high. More losses could call for a test of $200 while the 4-hour MACD for the pair is gaining momentum in the bullish zone. The 4-hour RSI for the pair is now in the overbought zone.
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