{"id":6174,"date":"2024-09-13T05:08:45","date_gmt":"2024-09-13T05:08:45","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=6174"},"modified":"2024-09-13T05:08:45","modified_gmt":"2024-09-13T05:08:45","slug":"bnb-price-surge-eyes-550-breakout-can-it-push-higher","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=6174","title":{"rendered":"BNB Price Surge Eyes $550 Breakout: Can It Push Higher?"},"content":{"rendered":"

BNB price started a fresh surge above the <\/em>$525 resistance zone. The price is now consolidating gains and might aim for more gains above $550.<\/em><\/p>\n

BNB price started a fresh increase above the $525 resistance zone.
\nThe price is now trading below $535 and the 100-hourly simple moving average.
\nThere is a short-term rising channel forming with support at $540 on the hourly chart of the BNB\/USD pair (data source from Binance).
\nThe pair must stay above the $525 pivot level to start another increase in the near term.<\/p>\n

BNB Price Settles Above $525<\/h2>\n

In the last analysis, we discussed the chance of more gains in BNB price above the $525 resistance. The price outperformed Ethereum<\/a> and Bitcoin<\/a>. It surged above the $525 and $535 levels.<\/p>\n

It even tested the $550 resistance zone. A high was formed at $549.5 and the price started a downside correction. There was a move below the $545 level. The price slipped just below the 23.6% Fib retracement level of the upward move from the $507 swing low to the $549 high.<\/p>\n

The pair is now trading above $535 and the 100-hourly simple moving average. There is also a short-term rising channel forming with support at $540 on the hourly chart of the BNB\/USD pair.<\/p>\n

If there is a fresh increase, the price could face resistance near the $548 level. The next resistance sits near the $550 level. A clear move above the $550 zone could send the price higher. In the stated case, BNB price could test $562.<\/p>\n

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

A close above the $562 resistance might set the pace for a larger move toward the $580 resistance. Any more gains might call for a test of the $585 level in the near term.<\/p>\n

Are Dips Limited?<\/h2>\n

If BNB fails to clear the $550 resistance, it could start another decline. Initial support on the downside is near the $540 level and the channel trend line. The next major support is near the $525 level or the 61.8% Fib retracement level of the upward move from the $507 swing low to the $549 high.<\/p>\n

The main support sits at $520. If there is a downside break below the $520 support, the price could drop toward the $505 support. Any more losses could initiate a larger decline toward the $500 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 $540 and $525.<\/p>\n

Major Resistance Levels \u2013 $548 and $550.<\/p>","protected":false},"excerpt":{"rendered":"

BNB price started a fresh surge above the $525 resistance zone. The price is now consolidating gains and might aim for more gains above $550. BNB price started a fresh increase above the $525 resistance zone. The price is now trading below $535 and the 100-hourly simple moving average. There is a short-term rising channel […]<\/p>\n","protected":false},"author":0,"featured_media":6175,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6174","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\/6174"}],"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=6174"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/6174\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/6175"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}