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BNB Price Prediction: Will Binance Coin Break ATH?

 


The BNB price is approaching the ATH, at least in the BTC chart. Can the BNB price break the ATH and set a new high?


BNB price bullishly breaks 50-day EMA resistance

The BNB price has risen by around 50% since BNB had established a local low at around USD 183.4. With this, the Binance Coin was able to break the 50-day EMA resistance, which now serves as support at around USD 256. If the 50-day EMA support is broken in a bearish manner, significant Fibonacci support awaits the BNB price at around USD 240 and USD 215.


Elsewhere, Binance Coin finds the next 0.382 Fib resistance around USD 289. In addition, the MACD is rather bearish in the daily chart, because the histogram has been ticking bearishly lower for a few days. The RSI is neutral.

In the 4H chart, the Binance Coin price formed a golden crossover, which confirms the trend as bullish in the short term. In addition, the 50-4H EMA has served as support twice over the past few days. In addition, the MACD histogram is ticking bullishly higher and the MACD lines may now cross bullishly as well.


The breaking of the golden ratio at around USD 265, where BNB is now finding resistance, is important for a bullish development.


Will the BNB rate rise to the 50-week EMA?

The MACD is also bullish in the weekly chart, because the histogram has been ticking bullishly higher for several weeks while the MACD lines could now cross bullishly. Here, too, the RSI is neutral.


If the BNB price breaks the 0.382 Fib resistance at around USD 289, significant Fibonacci resistance awaits Binance Coin at around USD 350. There is also the 50-week EMA, which also acts as a significant resistance.


It may not be enough for a bullish candle formation in the monthly chart


In the monthly chart, the MACD remains clearly bearish as the histogram ticks bearish lower and the MACD lines remain bearish crossed. Again, the RSI gives neither bullish nor bearish signals.


The Binance Coin price could achieve a bullish candle formation in the monthly chart if the BNB price rises to around USD 321 within a week and closes above it at the turn of the month. However, since there is only one week left at the end of the month, the BNB course may not make it.


For a fully bullish trend reversal, the BNB price needs to break the golden ratio at the USD 500 level. Only then can the Binance Coin course target new highs.


Against BTC, the BNB price is about to hit the ATH

Against BTC, BNB is very close to ATH at around 0.0125 BTC. However, BNB is currently forming a series of lower highs, should BNB correct now. Then BNB finds significant support at the 50-week EMA at around 0.0097 BTC and should this support be broken bearishly, significant Fibonacci support awaits the BNB price at around 0.008 BTC.


In addition, BNB is also forming a series of higher lows and the MACD is clearly bullish on the weekly chart. After all, the histogram has been ticking bullishly higher for a few weeks and the MACD lines are also bullishly crossed. In addition, the RSI is also neutral here and gives neither bullish nor bearish signals.


Disclaimer

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at their own risk.

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