• Live Crypto Prices
  • Crypto News
    • Worldwide
      • Bitcoin
      • Ethereum
      • Altcoin
      • Blockchain
      • Regulation
    • Australian Crypto News
  • Education
    • Cryptocurrency For Beginners
    • Where to Buy Cryptocurrency
    • Where to Store Cryptos
    • Cryptocurrency Tax in Australia 2021
No Result
View All Result
CryptoABC.net
No Result
View All Result

Binance Coin (BNB) Surges Towards $250, Why Bulls Are Not Done Yet

February 19, 2021
in Bitcoin
Reading Time: 3min read
0 0
A A
0
Binance Coin (BNB) Surges Towards $250, Why Bulls Are Not Done Yet
0
SHARES
7
VIEWS
ShareShareShareShareShare

Binance coin price is up over 35% and it is extended its rally above $200 against the USDT. BNB traded to a record high at $238 and it seems like there are chances of more upsides.

  • Binance coin price extended its rally above the $175 and $200 resistance levels against the USDT.
  • The price traded to a new all-time high at $238 and it settled well above the 100 simple moving average (4-hours).
  • There was a break above a couple of bullish continuation patterns at $170 and $200 on the 4-hours chart of the BNB/USDT pair (data source from Binance).
  • There is consolidating gains and it is likely to continue higher towards $250 and $275.

Binance Coin Price Rallies 35%

In the past few days, binance coin gained a strong bullish momentum above the $100 level. BNB price outperformed bitcoin and Ethereum, with massive gains.

It even broke the $150 and $175 resistance levels. During the recent rally, there was a break above a couple of bullish continuation patterns at $170 and $200 on the 4-hours chart of the BNB/USDT pair. The pair even surged above the $200 and $210 levels.

It traded to a new all-time high at $238 and it settled well above the 100 simple moving average (4-hours). BNB is currently correcting gains and testing the $225 level.

Source: BNBUSDT on TradingView.com

The 23.6% Fib retracement level of the recent rally from the $189 swing low to $238 high is acting as a strong support. If there are any more losses, the price could decline towards the $210 level.

On the upside, the $240 level is a short-term hurdle. The next major resistance is near the $250 level. A clear break above the $250 level will most likely open the doors for a sharp increase towards the $285 and $300 levels in the near term.

Dips Supported in BNB?

If BNB fails to continue higher above $240 and $250, there could be a downside correction. The first major support is near the $225 level.

The next major support is near the $210 level. It is close to the 50% Fib retracement level of the recent rally from the $189 swing low to $238 high. Any more losses might call for a test of $200.

Technical Indicators

4-Hours MACD – The MACD for BNB/USDT is gaining momentum in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for BNB/USDT is currently in the overbought zone.

Major Support Levels – $225, $210 and $200.

Major Resistance Levels – $240, $250 and $300.

Credit: Source link

ShareTweetSendPinShare
Previous Post

The Crypto Market Has Surpassed Australia’s Total GPD, In Less Than

Next Post

Engineer Elon Musk Says Bitcoin ‘Is Less Dumb’ Than Cash

Next Post
Engineer Elon Musk Says Bitcoin ‘Is Less Dumb’ Than Cash

Engineer Elon Musk Says Bitcoin 'Is Less Dumb' Than Cash

You might also like

Ethereum Staking Surges Post-Pectra—Is a Bullish Breakout Brewing?

Ethereum Staking Surges Post-Pectra—Is a Bullish Breakout Brewing?

May 8, 2025
Maldives Bets Big on Blockchain with $9B Crypto Hub Deal

Maldives Bets Big on Blockchain with $9B Crypto Hub Deal

May 5, 2025
Bitcoin (BTC) and Overall Crypto Market Cap Jump as US President Donald Trump Rolls Out Post-Tariffs UK Trade Deal

Bitcoin (BTC) and Overall Crypto Market Cap Jump as US President Donald Trump Rolls Out Post-Tariffs UK Trade Deal

May 9, 2025
Institutional Crypto Products See $2,000,000,000 in Inflows Amid ‘Dramatic’ Sentiment Shift: CoinShares

Institutional Crypto Products See $2,000,000,000 in Inflows Amid ‘Dramatic’ Sentiment Shift: CoinShares

May 5, 2025
Analyst Says Bitcoin’s Most Crucial Support Level Is At $91,200 — What’s Next?

Analyst Says Bitcoin’s Most Crucial Support Level Is At $91,200 — What’s Next?

May 3, 2025
Bitcoin Holdings in Public Company Treasuries Exceed 200,000 BTC

CoreWeave Secures $1.5 Billion Credit Facility Expansion for Global AI Growth

May 6, 2025
CryptoABC.net

This is an Australian online news/education portal that aims to provide the latest crypto news, real-time updates, education and reviews within Australia and around the world. Feel free to get in touch with us!

What's New Here!

Bitcoin 4H Chart Shows Bullish Consolidation – Classic Continuation?

Bitcoin 4H Chart Shows Bullish Consolidation – Classic Continuation?

May 10, 2025
CryptoQuant CEO Says It’s Time To Throw Out ‘Cycle Theory’

CryptoQuant CEO Says It’s Time To Throw Out ‘Cycle Theory’

May 10, 2025

Subscribe Now

  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2021 cryptoabc.net - All rights reserved!

No Result
View All Result
  • Live Crypto Prices
  • Crypto News
    • Worldwide
      • Bitcoin
      • Ethereum
      • Altcoin
      • Blockchain
      • Regulation
    • Australian Crypto News
  • Education
    • Cryptocurrency For Beginners
    • Where to Buy Cryptocurrency
    • Where to Store Cryptos
    • Cryptocurrency Tax in Australia 2021

© 2021 cryptoabc.net - All rights reserved!

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • Heart NumberHeart Number(HTN)$0.000000-30.47%
  • TadpoleTadpole(TAD)$0.000000-1.76%
  • SEENSEEN(SEEN)$0.000000-2.27%
  • EvedoEvedo(EVED)$0.000000-0.80%
  • MarginswapMarginswap(MFI)$0.000000-2.17%
  • SakeTokenSakeToken(SAKE)$0.0000004.37%
  • WTF TokenWTF Token(WTF)$0.0000000.16%
  • BNSD FinanceBNSD Finance(BNSD)$0.000000-5.83%
  • RobotinaRobotina(ROX)$0.00000038.50%
  • CageCage(C4G3)$0.000000-3.67%