{"id":5408,"date":"2024-09-11T04:48:32","date_gmt":"2024-09-11T04:48:32","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=5408"},"modified":"2024-09-11T04:48:32","modified_gmt":"2024-09-11T04:48:32","slug":"bnb-price-reclaims-500-can-bulls-maintain-the-push","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=5408","title":{"rendered":"BNB Price Reclaims $500: Can Bulls Maintain the Push?"},"content":{"rendered":"

BNB price started a fresh increase and cleared the <\/em>$500 pivot zone. The price is now consolidating gains and might aim for more gains above $525.<\/em><\/p>\n

BNB price started a fresh increase above the $500 resistance zone.
\nThe price is now trading below $510 and the 100-hourly simple moving average.
\nThere was a break below a key bullish trend line with support at $517 on the hourly chart of the BNB\/USD pair (data source from Binance).
\nThe pair must stay above the $500 pivot level to start another increase in the near term.<\/p>\n

BNB Price Settles Above $500<\/h2>\n

After forming a base above the $470 level, BNB price started a fresh increase like Ethereum<\/a> and Bitcoin<\/a>. The price was able to climb above the $488 and $500 resistance levels.<\/p>\n

It even cleared the $515 level and tested $525. A high was formed at $526 and the price started a downside correction. There was a move below the $520 level. The price slipped just below the 23.6% Fib retracement level of the upward move from the $471 swing low to the $526 high.<\/p>\n

Besides, there was a break below a key bullish trend line with support at $517 on the hourly chart of the BNB\/USD pair. The pair is now trading above $510 and the 100-hourly simple moving average.<\/p>\n

If there is a fresh increase, the price could face resistance near the $518 level. The next resistance sits near the $525 level. A clear move above the $525 zone could send the price higher. In the stated case, BNB price could test $535.<\/p>\n

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

A close above the $535 resistance might set the pace for a larger move toward the $550 resistance. Any more gains might call for a test of the $562 level in the near term.<\/p>\n

Another Decline?<\/h2>\n

If BNB fails to clear the $525 resistance, it could start another decline. Initial support on the downside is near the $510 level. The next major support is near the $500 level.<\/p>\n

The main support sits at $492. If there is a downside break below the $492 support, the price could drop toward the $470 support. Any more losses could initiate a larger decline toward the $450 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 $510 and $500.<\/p>\n

Major Resistance Levels \u2013 $518 and $525.<\/p>","protected":false},"excerpt":{"rendered":"

BNB price started a fresh increase and cleared the $500 pivot zone. The price is now consolidating gains and might aim for more gains above $525. BNB price started a fresh increase above the $500 resistance zone. The price is now trading below $510 and the 100-hourly simple moving average. There was a break below […]<\/p>\n","protected":false},"author":0,"featured_media":5409,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-5408","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\/5408"}],"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=5408"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/5408\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/5409"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}