{"id":42456,"date":"2025-02-07T05:08:51","date_gmt":"2025-02-07T05:08:51","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=42456"},"modified":"2025-02-07T05:08:51","modified_gmt":"2025-02-07T05:08:51","slug":"bnb-price-poised-to-rally-if-it-can-overcome-this-hurdle","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=42456","title":{"rendered":"BNB Price Poised to Rally\u2014If It Can Overcome This Hurdle"},"content":{"rendered":"

BNB price is recovering losses from the $540 support zone. The price is rising and might aim for a fresh move toward the $635 resistance.<\/em><\/p>\n

BNB price is struggling to clear the $585 resistance zone.
\nThe price is now trading near $580 and the 100-hourly simple moving average.
\nThere was a break above a key bearish trend line with resistance at $578 on the hourly chart of the BNB\/USD pair (data source from Binance).
\nThe pair must stay above the $560 level to start another increase in the near term.<\/p>\n

BNB Price Eyes Fresh Surge<\/h2>\n

After a decent increase, BNB price struggled to settle above the $620 level. It started a pullback from the $619 high, like Ethereum<\/a> and Bitcoin<\/a>.<\/p>\n

There was a drop below the $600 support zone. The price even dived below the $580 level. A low was formed at $559 and the price recently started a decent recovery wave. There was a move above the $570 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $619 swing high to the $559 low.<\/p>\n

There was a break above a key bearish trend line with resistance at $578 on the hourly chart of the BNB\/USD pair. The price is now trading near $580 and the 100-hourly simple moving average.<\/p>\n

If there is a fresh increase, the price could face resistance near the $590 level or the 50% Fib retracement level of the downward move from the $619 swing high to the $559 low. The next resistance sits near the $595 level. A clear move above the $595 zone could send the price higher.<\/p>\n

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

In the stated case, BNB price could test $605. A close above the $605 resistance might set the pace for a larger move toward the $620 resistance. Any more gains might call for a test of the $632 level in the near term.<\/p>\n

Another Decline?<\/h2>\n

If BNB fails to clear the $590 resistance, it could start another decline. Initial support on the downside is near the $570 level. The next major support is near the $560 level.<\/p>\n

The main support sits at $540. If there is a downside break below the $540 support, the price could drop toward the $532 support. Any more losses could initiate a larger decline toward the $510 level.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 The MACD for BNB\/USD is gaining 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 $560 and $540.<\/p>\n

Major Resistance Levels \u2013 $590 and $605.<\/p>","protected":false},"excerpt":{"rendered":"

BNB price is recovering losses from the $540 support zone. The price is rising and might aim for a fresh move toward the $635 resistance. BNB price is struggling to clear the $585 resistance zone. The price is now trading near $580 and the 100-hourly simple moving average. There was a break above a key […]<\/p>\n","protected":false},"author":0,"featured_media":42457,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-42456","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\/42456"}],"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=42456"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/42456\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/42457"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}