BNB worth is gaining bullish momentum above the $550 resistance. The value is displaying constructive indicators and would possibly prolong its rally above $650.

• BNB worth is up over 15% and it broke the $600 resistance zone.
• The value is now buying and selling above $580 and the 100 easy shifting common (Four hours).
• There’s a key bullish pattern line forming with help at $598 on the 4-hour chart of the BNB/USD pair (knowledge supply from Binance).
• The pair might proceed to rise towards the $650 resistance zone and even $700.

BNB Value Extends Rally

Within the final BNB worth prediction, we mentioned the possibilities of extra positive factors above the $500 resistance zone. The value continued to rise and broke many hurdles close to the $550 stage.

BNB is now outperforming Bitcoin and Ethereum with a transfer above the $580 resistance. It’s up over 10% at the moment and buying and selling above $600. A excessive was fashioned close to $633 and the value is now consolidating positive factors. It’s buying and selling above the 23.6% Fib retracement stage of the upward transfer from the $364 swing low to the $633 excessive.

The value is now buying and selling above $600 and the 100 easy shifting common (Four hours). Quick resistance is close to the $625 stage. The subsequent resistance sits close to the $635 stage. A transparent transfer above the $635 zone might ship the value additional increased.

Supply: BNBUSD on TradingView.com

Within the acknowledged case, BNB worth might take a look at $650. An in depth above the $650 resistance would possibly set the tempo for a bigger improve towards the $700 resistance. Any extra positive factors would possibly name for a take a look at of the $780 stage within the coming days.

Dips Restricted?

If BNB fails to clear the $635 resistance, it might begin a draw back correction. Preliminary help on the draw back is close to the $600 stage and the pattern line.

The subsequent main help is close to the $570 stage. The principle help sits at $500 or the 50% Fib retracement stage of the upward transfer from the $364 swing low to the $633 excessive. If there’s a draw back break beneath the $500 help, the value might drop towards the $450 help. Any extra losses might provoke a bigger decline towards the $420 stage.

Technical Indicators

4-Hours MACD – The MACD for BNB/USD is gaining tempo within the bullish zone.

4-Hours RSI (Relative Energy Index) – The RSI for BNB/USD is at present above the 50 stage.

Main Help Ranges – $600, $570, and $500.

Main Resistance Ranges – $635, $650, and $700.

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