{"id":7639,"date":"2024-09-18T05:08:54","date_gmt":"2024-09-18T05:08:54","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=7639"},"modified":"2024-09-18T05:08:54","modified_gmt":"2024-09-18T05:08:54","slug":"bnb-price-set-to-outperform-is-a-breakout-coming-soon","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=7639","title":{"rendered":"BNB Price Set to Outperform: Is a Breakout Coming Soon?"},"content":{"rendered":"

BNB price started a fresh increase above the <\/em>$542 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 $540 resistance zone.
\nThe price is now trading below $550 and the 100-hourly simple moving average.
\nThere is a key bearish trend line forming with resistance at $550 on the hourly chart of the BNB\/USD pair (data source from Binance).
\nThe pair must stay above the $540 pivot level to start another increase in the near term.<\/p>\n

BNB Price Regains Traction<\/h2>\n

In the past few days, BNB outperformed Ethereum<\/a> and Bitcoin<\/a>. It remained stable above $525 and started another increase above the $535 resistance zone.<\/p>\n

There was a move above the $542 and $545 resistance levels. The price climbed above the 50% Fib retracement level of the downward move from the $562 swing high to the $527 low. However, the bears are now active near the $550 resistance zone.<\/p>\n

The price is now trading below $550 and the 100-hourly simple moving average. If there is a fresh increase, the price could face resistance near the $550 level. There is also a key bearish trend line forming with resistance at $550 on the hourly chart of the BNB\/USD pair. The trend line is close to the 61.8% Fib retracement level of the downward move from the $562 swing high to the $527 low.<\/p>\n

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

The next resistance sits near the $558 level. A clear move above the $558 zone could send the price higher. In the stated case, BNB price could test $565. A close above the $565 resistance might set the pace for a larger move toward the $580 resistance. Any more gains might call for a test of the $592 level in the near term.<\/p>\n

Are Dips Supported?<\/h2>\n

If BNB fails to clear the $550 resistance, it could start another decline. Initial support on the downside is near the $544 level. The next major support is near the $540 level.<\/p>\n

The main support sits at $535. If there is a downside break below the $535 support, the price could drop toward the $520 support. Any more losses could initiate a larger decline toward the $505 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 $535.<\/p>\n

Major Resistance Levels \u2013 $550 and $558.<\/p>","protected":false},"excerpt":{"rendered":"

BNB price started a fresh increase above the $542 resistance zone. The price is now consolidating gains and might aim for more gains above $550. BNB price started a fresh increase above the $540 resistance zone. The price is now trading below $550 and the 100-hourly simple moving average. There is a key bearish trend […]<\/p>\n","protected":false},"author":0,"featured_media":7640,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-7639","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\/7639"}],"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=7639"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/7639\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/7640"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}