BNB Price Shows Signs of Life But $250 Is The Key To More Upsides

Nov 6, 2023 06:00 am Cryptocurrency 204

BNB price avoided a major decline below $200 and recovered against the US Dollar. It climbed above $235 and now faces many hurdles near $245 and $250.

BNB price is slowly moving higher toward the $250 resistance.

The price is now trading above $235 and the 100 simple moving average (4 hours).

There is a key bullish trend line forming with support at $241.5 on the 4-hour chart of the BNB/USD pair (data source from Binance).

The pair might gain bullish momentum if there is a clear move above $250.

BNB Price Recovers 10%

These past few days, BNB price managed to start a recovery wave above the $220 resistance. The recent positive moves in Bitcoin, Ethereum, and other altcoins sparked a decent increase in BNB.

There was a steady move above the $232 and $235 resistance levels. The price even climbed toward the $245 resistance. ..

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