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.

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

 

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