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Charted: Binance Coin (BNB) Trades To Report Excessive At $175, $200 Nonetheless Doable

02/18/2021

Binance coin value is up over 20% and it’s outperforming bitcoin towards the USDT. BNB rallied above $150 and traded to a brand new all-time excessive at $176.

  • Binance coin value is gaining bullish momentum above the $150 degree towards the USDT.
  • The value is up over 20% and it traded to a brand new all-time excessive close to $176.
  • There was a break above a significant bearish development line with resistance close to $130 on the 4-hours chart of the BNB/USDT pair (knowledge supply from Binance).
  • There might be a short-term draw back correction, however the bulls are prone to defend $150.

Binance Coin Worth Rallies 20%

Up to now few days, bitcoin, Ethereum, and binance coin prolonged their good points. BNB value fashioned a help base above the $120 degree and began one other robust upward transfer.

The value cleared the $150 resistance degree and settled properly above the 100 easy transferring common (4-hours). There was additionally a break above a significant bearish development line with resistance close to $130 on the 4-hours chart of the BNB/USDT pair.

The pair rallied over 20% and it even spiked above the $175 degree. A brand new all-time excessive is fashioned close to $176 and the worth is presently consolidating good points. It’s testing the 23.6% Fib retracement degree of the upward transfer from the $126 swing low to $176 excessive.

Binance Coin (BNB)

Supply: BNBUSDT on TradingView.com

The following main help is close to the $150 zone (the current breakout zone). It’s near the 50% Fib retracement degree of the upward transfer from the $126 swing low to $176 excessive.

Subsequently, dips in direction of the $150 degree may discover a robust shopping for curiosity within the close to time period. Any extra losses might presumably open the doorways for a push in direction of the $125 help degree.

Extra Upsides in BNB?

If BNB stays steady above $150, it may proceed to rise. An preliminary resistance on the upside is close to the $175 zone or the $176 excessive.

A transparent break above $175 and $176 is prone to clear the trail for one more 10%-15% rally. Within the said case, the worth is prone to hit the $200 degree within the coming periods.

Technical Indicators

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

4-Hours RSI (Relative Power Index) – The RSI for BNB/USDT is presently properly within the overbought zone.

Main Assist Ranges – $160, $150 and $125.

Main Resistance Ranges – $175, $180 and $200.