{"id":36589,"date":"2025-01-17T05:08:29","date_gmt":"2025-01-17T05:08:29","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=36589"},"modified":"2025-01-17T05:08:29","modified_gmt":"2025-01-17T05:08:29","slug":"bnb-price-poised-for-gains-bulls-push-for-new-highs","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=36589","title":{"rendered":"BNB Price Poised for Gains: Bulls Push for New Highs"},"content":{"rendered":"

BNB price is consolidating above the $700 support zone. The price is consolidating and might aim for a fresh increase above the $720 resistance.<\/em><\/p>\n

BNB price is struggling to clear the $720 resistance zone.
\nThe price is now trading above $700 and the 100-hourly simple moving average.
\nThere is a key bullish trend line forming with support at $708 on the hourly chart of the BNB\/USD pair (data source from Binance).
\nThe pair must stay above the $700 level to start another increase in the near term.<\/p>\n

BNB Price Aims Higher<\/h2>\n

After a downside correction, BNB price found support at $690. It is now recovering losses like Ethereum<\/a> and Bitcoin<\/a>. There was a move above the $700 level.<\/p>\n

The bulls were able to push the price above the $712 resistance. However, the bears are active near the $720 zone. A high was formed at $717 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $689 swing low to the $717 high.<\/p>\n

The price is now trading above $700 and the 100-hourly simple moving average. There is also a key bullish trend line forming with support at $708 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 $718 level. The next resistance sits near the $720 level. A clear move above the $720 zone could send the price higher. In the stated case, BNB price could test $732. A close above the $732 resistance might set the pace for a larger move toward the $740 resistance. Any more gains might call for a test of the $750 level in the near term.<\/p>\n

Another Dip?<\/h2>\n

If BNB fails to clear the $720 resistance, it could start another decline. Initial support on the downside is near the $708 level and the trend line. The next major support is near the $703 level.<\/p>\n

The main support sits at $700 or the 61.8% Fib retracement level of the upward move from the $689 swing low to the $717 high. If there is a downside break below the $700 support, the price could drop toward the $692 support. Any more losses could initiate a larger decline toward the $685 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 above the 50 level.<\/p>\n

Major Support Levels \u2013 $708 and $700.<\/p>\n

Major Resistance Levels \u2013 $720 and $732.<\/p>","protected":false},"excerpt":{"rendered":"

BNB price is consolidating above the $700 support zone. The price is consolidating and might aim for a fresh increase above the $720 resistance. BNB price is struggling to clear the $720 resistance zone. The price is now trading above $700 and the 100-hourly simple moving average. There is a key bullish trend line forming […]<\/p>\n","protected":false},"author":0,"featured_media":36590,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-36589","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\/36589"}],"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=36589"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/36589\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/36590"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=36589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=36589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=36589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}