BNB Price Surge Expected to Continue? Resistance at $310 Could Spark a New Rally
BNB price is currently in an upward trend, with a potential for further gains if it manages to break through the $310 resistance level.
Key points to note:
– BNB has been showing bullish signs and is trading above the $300 pivot level.
– Currently, the price is below the $310 resistance and the 100 simple moving average (4 hours).
– A significant bearish trend line is forming with resistance near $306.
– For a fresh rally, BNB needs to surpass the $308-$310 resistance zone.
– A successful break and close above this zone may push the price towards $320, and possibly higher towards $335 and $350 levels.
On the downside, if BNB fails to overcome the $310 resistance, it could see a decline. Initial support is near the $300 level, followed by stronger support at $292, which corresponds to the 76.4% Fib retracement level. The main support stands at $288, and a break below that level could lead to a drop towards $275 and potentially even $262.
Technical indicators:
– The MACD for BNB/USD is currently showing diminishing bullish momentum.
– The RSI (Relative Strength Index) is above the 50 level, indicating bullishness.
Please note that this article should not be considered as financial advice. It is for educational purposes only. As always, it is recommended to conduct your own research and exercise caution when making investment decisions.