{"id":20697,"date":"2024-11-15T05:08:56","date_gmt":"2024-11-15T05:08:56","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=20697"},"modified":"2024-11-15T05:08:56","modified_gmt":"2024-11-15T05:08:56","slug":"bnb-price-poised-for-takeoff-will-it-be-the-next-to-rally","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=20697","title":{"rendered":"BNB Price Poised for Takeoff: Will It Be The Next to Rally?"},"content":{"rendered":"

BNB price struggled to clear the $665 resistance zone. The price is consolidating and might aim for a fresh increase above the $635 level.<\/em><\/p>\n

BNB price started a downside correction from the $665 resistance zone.
\nThe price is now trading below $640 and the 100-hourly simple moving average.
\nThere is a connecting bullish trend line forming with support at $620 on the hourly chart of the BNB\/USD pair (data source from Binance).
\nThe pair must stay above the $600 level to start another increase in the near term.<\/p>\n

BNB Price Holds Support<\/h2>\n

After a close above the $620 level, BNB price extended its increase. However, upsides were limited above $660 and the price remained capped, unlike Ethereum<\/a> and Bitcoin<\/a>.<\/p>\n

There was a move below the $632 and $620 levels. However, the price is now holding gains above the $600 level. A low was formed at $616 and the price is now consolidating near the 23.6% Fib retracement level of the downward move from the $661 swing high to the $616 low.<\/p>\n

The price is now trading below $620 and the 100-hourly simple moving average. There is also a connecting bullish trend line forming with support at $620 on the hourly chart of the BNB\/USD pair.<\/p>\n

If there is a fresh increase, the price could face resistance near the $626 level. The next resistance sits near the $638 level or the 50% Fib retracement level of the downward move from the $661 swing high to the $616 low. A clear move above the $638 zone could send the price higher.<\/p>\n

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

In the stated case, BNB price could test $650. A close above the $650 resistance might set the pace for a larger move toward the $665 resistance. Any more gains might call for a test of the $680 level in the near term.<\/p>\n

More Losses?<\/h2>\n

If BNB fails to clear the $638 resistance, it could start another decline. Initial support on the downside is near the $620 level and the trend line. The next major support is near the $615 level.<\/p>\n

The main support sits at $600. If there is a downside break below the $600 support, the price could drop toward the $585 support. Any more losses could initiate a larger decline toward the $565 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 $620 and $615.<\/p>\n

Major Resistance Levels \u2013 $638 and $650.<\/p>","protected":false},"excerpt":{"rendered":"

BNB price struggled to clear the $665 resistance zone. The price is consolidating and might aim for a fresh increase above the $635 level. BNB price started a downside correction from the $665 resistance zone. The price is now trading below $640 and the 100-hourly simple moving average. There is a connecting bullish trend line […]<\/p>\n","protected":false},"author":0,"featured_media":20698,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-20697","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\/20697"}],"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=20697"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/20697\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/20698"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}