Resurgence of BNB Price Could Lead to 15% Bullish Rally, Here’s Why

Resurgence of BNB Price Could Lead to 15% Bullish Rally, Here's Why

BNB Price Shows 8% Jump

Recently, BNB price has maintained stability over the $240 resistance level. As bulls stepped in, a whole lot of obstacle at $250 was cleared, leading to further upside movement beyond $255.

BNB gained over 5% traction, surpassing both Bitcoin (BTC) and Ethereum (ETH), to form a new multi-week high near $267.9. The price is now consolidating its gains and is as of now trading over $255 and the 100 simple moving average (4 hours). In addition, a major positive trend trend line with support at $253.5 is forming on the 4-hour chart of the BNB/USD pair.

Forecasting today’s NEO price – Technical analysis of NEO for December 1

As of now, if the price continues  to rise and surpasses the $268 level, it might potentially test $280. A clear move over $280 would open the door for a larger increase toward the $300 resistance.

Source: BNBUSD on

Probable Downside Correction

If BNB is unable to surpass the $265 resistance, there is a likelihood of a downside correction. Initial support is expected near the $260 level, with further major support near $255. The main support stands at $253 or the trend line, next to the 50% Fib retracement level.

Universal’s NFT Band Kingship Brings Bored Apes to Roblox

A downside break below the $253 support could cause the price to fall toward the $245 support. Following that, more losses could lead to a larger decline toward the $238 level.

Technical Indicators

4-Hours MACD – The MACD for BNB/USD is gaining pace in the positive trend zone.

4-Hours RSI (Relative Strength Index) – The RSI for BNB/USD is as of now over the 50 level.

Top 5 Cryptocurrencies Poised for Market Growth

Major Support Levels – $260, $255, and $253.

Major Resistance Levels – $265, $268, and $280.

Hot Take: BNB on a Bullish Run

BNB’s recent surge over key resistance levels indicates a positive trend momentum. With probable further upside, a clear move over $280 could signal a whole lot of increase toward the $300 resistance.

Author – Contributor at | Website

Newt Bettec emerges as an intellectual voyager at the intersection of crypto analysis, meticulous research, and editorial mastery. Within the digital labyrinth of cryptocurrencies, Newt’s intellect traverses intricate corridors, resonating with seekers of diverse inclinations. His talent for unraveling complex threads of crypto intricacies seamlessly blends with his editorial finesse, transmuting intricacy into an engaging tapestry of understanding.

Seeking Public Input: SEC Solicits Feedback on Fidelity’s Application for Ether ETF
Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.

Subscribe to our Social Media for Exclusive Crypto News and Insights 24/7!

Email me the hottest Crypto news!

Latest Crypto News

Share via
Share via