Binance Coin Continues Its Rise 500 + %

Binance coin price started a new rally above the $ 260 and $ 280 resistance levels against USDT.

The price is currently trading well above $ 280 and the 100 simple moving average.

There is a major bullish trend line formed with support near $ 290 on the 4-hour chart of the BNB / USDT pair.

The pair looks set to continue its upward movement above the $ 315 and $ 320 resistance levels in the near term.

Binance Coin Price Breaks $ 300

After building a base of over $ 220, the binance coin started a new surge. BNB broke the key resistance at $ 250 and recently crossed the $ 275 pivot level.

The bulls were able to push the price above the $ 280 barrier and the 100 simple moving average (4-hour). As a result, there was a break above the $ 300 level. The price surged from $ 317 to a new monthly high and is currently correcting gains.

On the downside, the first major support is near the $ 290 level. There is also a major bullish trend line formed with support near $ 290 on the 4-hour chart of the BNB / USDT pair.

On the upside, the bulls are facing resistance near the $ 315 and $ 320 levels. The next major resistance is near the $ 340 level, with the price likely to hit an all-time high in the near term.

Supported Drops in BNB?

If BNB fails to break above $ 315 and $ 320, there could be a new bearish correction. The first major support is near the $ 295 level.

The next major support is near the $ 290 level and the trend line. If there is a downside break below the trendline support, there could be a drop towards the $ 280 support zone.

Technical Indicators

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

4-Hour RSI (Relative Strength Index) – The RSI for BNB / USDT is currently well above the 50 level.

Major Support Levels – $ 295, $ 290 and $ 280.

Major Resistance Levels – $ 315, 320 and $ 340.scribe.