{"id":18837,"date":"2024-11-08T05:08:47","date_gmt":"2024-11-08T05:08:47","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=18837"},"modified":"2024-11-08T05:08:47","modified_gmt":"2024-11-08T05:08:47","slug":"bnb-price-set-to-surge-could-it-be-the-next-big-mover","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=18837","title":{"rendered":"BNB Price Set to Surge: Could It Be the Next Big Mover?"},"content":{"rendered":"

BNB price struggled to stay above the $600 zone. The price is consolidating gains and might aim for a fresh increase above the $605 level.<\/em><\/p>\n

BNB price started a downside correction from the $612 resistance zone.
\nThe price is now trading above $590 and the 100-hourly simple moving average.
\nThere is a connecting bullish trend line forming with support at $595 on the hourly chart of the BNB\/USD pair (data source from Binance).
\nThe pair must stay above the $588 level to start another increase in the near term.<\/p>\n

BNB Price Holds Support<\/h2>\n

After a close above the $585 level, BNB price extended its increase. However, upsides were limited above $610 and the price remained capped unlike Ethereum<\/a> and Bitcoin<\/a>.<\/p>\n

There was a move below the $605 and $600 levels. The price even dipped below the 23.6% Fib retracement level of the upward move from the $543 swing low to the $611 high. However, the price is now holding gains above the $580 level.<\/p>\n

The price is now trading above $595 and the 100-hourly simple moving average. There is also a connecting bullish trend line forming with support at $595 on the hourly chart of the BNB\/USD pair.<\/p>\n

<\/a><\/p>\n

If there is a fresh increase, the price could face resistance near the $605 level. The next resistance sits near the $612 level. A clear move above the $612 zone could send the price higher. In the stated case, BNB price could test $620. A close above the $620 resistance might set the pace for a larger move toward the $632 resistance. Any more gains might call for a test of the $650 level in the near term.<\/p>\n

More Losses?<\/h2>\n

If BNB fails to clear the $605 resistance, it could start another decline. Initial support on the downside is near the $595 level and the trend line. The next major support is near the $578 level or the 50% Fib retracement level of the upward move from the $543 swing low to the $611 high.<\/p>\n

The main support sits at $570. If there is a downside break below the $570 support, the price could drop toward the $560 support. Any more losses could initiate a larger decline toward the $550 level.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 The MACD for BNB\/USD is losing pace in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BNB\/USD is currently below the 50 level.<\/p>\n

Major Support Levels \u2013 $595 and $578.<\/p>\n

Major Resistance Levels \u2013 $605 and $612.<\/p>","protected":false},"excerpt":{"rendered":"

BNB price struggled to stay above the $600 zone. The price is consolidating gains and might aim for a fresh increase above the $605 level. BNB price started a downside correction from the $612 resistance zone. The price is now trading above $590 and the 100-hourly simple moving average. There is a connecting bullish trend […]<\/p>\n","protected":false},"author":0,"featured_media":18838,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-18837","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/18837"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18837"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/18837\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/18838"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}