{"id":8733,"date":"2024-09-23T05:08:51","date_gmt":"2024-09-23T05:08:51","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=8733"},"modified":"2024-09-23T05:08:51","modified_gmt":"2024-09-23T05:08:51","slug":"bnb-price-tops-600-can-the-rally-continue","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=8733","title":{"rendered":"BNB Price Tops $600: Can the Rally Continue?"},"content":{"rendered":"

BNB price started a fresh increase above the <\/em>$550 resistance zone. The price is now consolidating near $600 and might aim for more gains.<\/em><\/p>\n

BNB price started a fresh increase above the $550 resistance zone.
\nThe price is now trading below $580 and the 100-hourly simple moving average.
\nThere is a key bullish trend line forming with support at $585 on the hourly chart of the BNB\/USD pair (data source from Binance).
\nThe pair must stay above the $575 level to start another increase in the near term.<\/p>\n

BNB Price Extends Rally<\/h2>\n

In the past few days, BNB outperformed Ethereum<\/a> and Bitcoin<\/a>. It remained stable above $535 and started another increase above the $542 resistance zone.<\/p>\n

There was a move above the $550 and $565 resistance levels. The price even surged above $580 and tested the $600 resistance zone. A high is formed at $599.7 and the price is now consolidating above the 23.6% Fib retracement level of the upward move from the $576 swing high to the $600 high.<\/p>\n

The price is now trading below $585 and the 100-hourly simple moving average. There is also a key bullish trend line forming with support at $585 on the hourly chart of the BNB\/USD pair. It is close to the 61.8% Fib retracement level of the upward move from the $576 swing high to the $600 high.<\/p>\n

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

If there is a fresh increase, the price could face resistance near the $600 level. The next resistance sits near the $608 level. A clear move above the $608 zone could send the price higher. In the stated case, BNB price could test $620. A close above the $620 resistance might set the pace for a larger move toward the $635 resistance. Any more gains might call for a test of the $650 level in the near term.<\/p>\n

Are Dips Supported?<\/h2>\n

If BNB fails to clear the $600 resistance, it could start a downside correction. Initial support on the downside is near the $588 level. The next major support is near the $585 level and the trend line.<\/p>\n

The main support sits at $575. If there is a downside break below the $575 support, the price could drop toward the $560 support. Any more losses could initiate a larger decline toward the $550 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 $585 and $575.<\/p>\n

Major Resistance Levels \u2013 $600 and $608.<\/p>","protected":false},"excerpt":{"rendered":"

BNB price started a fresh increase above the $550 resistance zone. The price is now consolidating near $600 and might aim for more gains. BNB price started a fresh increase above the $550 resistance zone. The price is now trading below $580 and the 100-hourly simple moving average. There is a key bullish trend line […]<\/p>\n","protected":false},"author":0,"featured_media":8734,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8733","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\/8733"}],"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=8733"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/8733\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/8734"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8733"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}