Binance Coin (BNB) trades over $300, will there be a new high

04/02/2021

After forming a base above $220, Binance coin started a fresh increase. BNB broke the main $250 resistance and recently surpassed the $275 pivot level.

The bulls were able to lead the price above the $280 barrier and the 100 simple moving average (4-hours). As a result, there was a break above the $300 level. The price traded to a new monthly high at $336 and it is currently correcting gains.

Profit Calculator
Use automated crypto trading strategies

It broke the $305 support level. There was also a break below the 23.6% Fib retracement level of the upward move from the $269 swing low to $317 high.

chart

On the downside, the first major support is near the $290 level. It is close to the 50% Fib retracement level of the upward move from the $269 swing low to $317 high. There is also a major bullish trend line forming with support near $290 on the 4-hours chart of the BNB/USDT pair.

On the upside, the bulls are facing resistance near the $315 and $320 levels. The next major resistance is near the $340 level, above which the price is likely to set a new all-time high in the near term.

What if BNB Dips?

If BNB fails to continue higher above $315 and $320, there could be a fresh downside correction. The first major support is near the $295 level.

The next major support is near the $290 level and the trend line. If there is a downside break below the trend line support, there could be a drop towards the $280 support zone.

Technical Indicators

Period

Moving Average

Price Change

Percent Change

Average Volume

5-Day

0.005054

+0.001023

+22.52%

653,865

20-Day

0.004787

+0.000829

+17.50%

761,825

50-Day

0.003707

+0.004299

+339.31%

1,537,514

100-Day

0.002561

+0.003793

+213.93%

1,210,684

200-Day

0.002338

+0.003840

+222.48%

1,322,743

Year-to-Date

0.003119

+0.004288

+335.52%

1,420,209

 

Period

Raw Stochastic

Stochastic %K

Stochastic %D

Average True Range

9-Day

98.25%

85.61%

75.33%

0.000368

14-Day

98.46%

81.17%

62.04%

0.000390

20-Day

98.46%

78.14%

60.02%

0.000394

50-Day

86.97%

81.39%

76.96%

0.000321

100-Day

87.27%

81.81%

77.46%

0.000244

 

Period

Relative Strength

Percent R

Historic Volatility

MACD Oscillator

9-Day

72.26%

1.75%

66.54%

0.000394

14-Day

67.82%

1.54%

59.01%

0.000522

20-Day

66.20%

1.54%

84.13%

0.000495

50-Day

63.75%

13.03%

172.47%

0.001575

100-Day

61.25%

12.73%

138.86%

0.002721

 

Invest Smartly with Botsfolio

Put your money to work with Botsfolio. Check products


  1. Sign up
  2. Connect with or Create an account with a currency exchange
  3. Make your crypto trading strategy for free
  4. Start your trading bots and that's it.
  5. We'll take it from there.

Whenever you feel like, open the dashboard to track your investment fund taking shape and bringing in returns.

View Latest Performance of Trading Bots on our Platform.

You Might Also Want To Read

Bitcoin grows stronger with nodecount t…

As per the latest data released from Bitcoin network tracker Bitnodes.io, on July 5 the n…

Which country is most interested in bit…

The country with the largest population in Africa seems to be interested in cryptocurrenc…

Microstrategy will pump another $500 mi…

MicroStrategy currently holds the most Bitcoin on its balance sheet out of all publicly t…

BTC Price Analysis : Will bitcoin hit $…

Over the past week, Bitcoin shed 4.21% of its value and was trading in the $33k range. Wh…

XRP Price Analysis - How high will it g…

XRP’s value has plunged by nearly 40%, from the peak of $1.70. This crash has cost many i…

At $50B, Dogecoin market cap bigger tha…

Dogecoin (DOGE) has been making news in April. Initially, it was trading in its usual $0.…