Binance Coin

BNB Steadies Above Support: Will Bullish Momentum Return?

Published

3 hours ago

December 23, 2024

BNB price is consolidating above the $620 support zone. The price is consolidating and might aim for a fresh increase above the $675 resistance.

BNB price is struggling to settle above the $700 pivot zone.
The price is now trading below $680 and the 100-hourly simple moving average.
There is a key bearish trend line forming with resistance at $675 on the hourly chart of the BNB/USD pair (data source from Binance).
The pair must stay above the $640 level to start another increase in the near term.

BNB Price Holds Support

After a downside correction, BNB price found support at $620. It is now recovering losses like Ethereum and Bitcoin. There was a move above the $675 level before the bears appeared at $695.

There was a move below the $680 and $675 levels. The price declined below the 50% Fib retracement level of the recovery wave from the $619 swing low to the $693 high. There is also a key bearish trend line forming with resistance at $675 on the hourly chart of the BNB/USD pair.

The price is now trading below $675 and the 100-hourly simple moving average. However, the bulls are now active near the 76.4% Fib retracement level of the recovery wave from the $619 swing low to the $693 high.

If there is a fresh increase, the price could face resistance near the $675 level and the trend line. The next resistance sits near the $692 level. A clear move above the $692 zone could send the price higher. In the stated case, BNB price could test $705.

A close above the $705 resistance might set the pace for a larger move toward the $720 resistance. Any more gains might call for a test of the $735 level in the near term.

Another Dip?

If BNB fails to clear the $675 resistance, it could start another decline. Initial support on the downside is near the $640 level. The next major support is near the $625 level.

The main support sits at $620. If there is a downside break below the $620 support, the price could drop toward the $612 support. Any more losses could initiate a larger decline toward the $600 level.

Technical Indicators

Hourly MACD – The MACD for BNB/USD is losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BNB/USD is currently above the 50 level.

Major Support Levels – $640 and $620.

Major Resistance Levels – $675 and $692.

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Binance Coin

BNB Price Eyes Another Leap: Is a Fresh Surge Incoming?

Published

2 weeks ago

December 6, 2024

admin

BNB price is consolidating near the $725 zone. The price is showing positive signs and might aim for a move above the $740 resistance.

BNB price started a downside correction from the $800 resistance zone.
The price is now trading above $700 and the 100-hourly simple moving average.
There is a key bearish trend line forming with resistance at $725 on the hourly chart of the BNB/USD pair (data source from Binance).
The pair must stay above the $715 level to start another increase in the near term.

BNB Price Holds Support

After a close above the $700 level, BNB price extended its increase, like Ethereum and Bitcoin. The bulls were able to pump the price above the $720 and $750 resistance levels.

Finally, the price tested the $800 zone. A high was formed at $794 before there was a downside correction. There was a move below the $750 and $740 levels. However, the price is now holding gains above the $700 level. A low was formed at $688 and the price is now consolidating above the 23.6% Fib retracement level of the downward move from the $795 swing high to the $688 low.

The price is now trading above $700 and the 100-hourly simple moving average. If there is a fresh increase, the price could face resistance near the $725level. There is also a key bearish trend line forming with resistance at $725 on the hourly chart of the BNB/USD pair.

The next resistance sits near the $740 level. It is near the 50% Fib retracement level of the downward move from the $795 swing high to the $688 low. A clear move above the $740 zone could send the price higher.

In the stated case, BNB price could test $750. A close above the $750 resistance might set the pace for a larger move toward the $785 resistance. Any more gains might call for a test of the $800 level in the near term.

Another Dip?

If BNB fails to clear the $725 resistance, it could start another decline. Initial support on the downside is near the $715 level. The next major support is near the $700 level.

The main support sits at $685. If there is a downside break below the $685 support, the price could drop toward the $665 support. Any more losses could initiate a larger decline toward the $650 level.

Technical Indicators

Hourly MACD – The MACD for BNB/USD is losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BNB/USD is currently above the 50 level.

Major Support Levels – $715 and $700.

Major Resistance Levels – $740 and $750.

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Altcoins

Solana Overtakes BNB To Claim Coveted 4th Spot In Crypto Ranks

Published

2 months ago

November 6, 2024

admin

They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!

So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Binance Coin

BNB Price Faces Challenges: Will It Hold $550 and Bounce Back?

Published

4 months ago

August 27, 2024

admin

BNB price is struggling to stay above the $550 support zone. The price could start a fresh increase if it clears the $560 resistance zone.

BNB price started a fresh decline from the $592 resistance zone.
The price is now trading below $565 and the 100-hourly simple moving average.
There is a connecting bearish trend line forming with resistance at $560 on the hourly chart of the BNB/USD pair (data source from Binance).
The pair could gain bullish momentum if it clears the $560-$562 resistance zone.

BNB Price Eyes Recovery

After struggling to test the $600 resistance, BNB price started a fresh decline like Ethereum and Bitcoin. The price declined below the $585 and $572 support levels. There was also a move below $560.

Finally, the price found support at $548. A low was formed at $547 and the price is now consolidating losses. There is also a connecting bearish trend line forming with resistance at $560 on the hourly chart of the BNB/USD pair.

The pair is now trading below $565 and the 100-hourly simple moving average. If there is a recovery wave, the price could face resistance near the $558 level and the trend line. It is close to the 23.6% Fib retracement level of the downward move from the $592 swing high to the $547 low.

The next resistance sits near the $562 level. A clear move above the $562 zone could send the price higher. In the stated case, BNB price could test $570 or the 50% Fib retracement level of the downward move from the $592 swing high to the $547 low.

A close above the $570 resistance might set the pace for a larger increase toward the $585 resistance. Any more gains might call for a test of the $592 level in the near term.

More Downsides?

If BNB fails to clear the $560 resistance, it could start another decline. Initial support on the downside is near the $550 level. The next major support is near the $548 level.

The main support sits at $542. If there is a downside break below the $542 support, the price could drop toward the $530 support. Any more losses could initiate a larger decline toward the $515 level.

Technical Indicators

Hourly MACD – The MACD for BNB/USD is losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BNB/USD is currently below the 50 level.

Major Support Levels – $550 and $548.

Major Resistance Levels – $560 and $570.

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