BNB Price Set to Outperform: Is a Breakout Coming Soon?

Sep 18, 2024 06:00 am Cryptocurrency 61

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 line forming with resistance at $550 on the hourly chart of the BNB/USD pair (data source from Binance).

The pair must stay above the $540 pivot level to start another increase in the near term.

BNB Price Regains Traction

In the past few days, BNB outperformed Ethereum and Bitcoin. It remained stable above $525 and started another increase above the $535 resistance zone.

There was a move above the $542 and $545 resistance levels. The price climbed above the 50% Fib retracement level of the downward ..

Support the originator by clicking the read the rest link below.