{"id":113492,"date":"2021-02-19T05:53:09","date_gmt":"2021-02-19T05:53:09","guid":{"rendered":"https:\/\/precoinnews.com\/?p=113492"},"modified":"2021-02-19T05:53:09","modified_gmt":"2021-02-19T05:53:09","slug":"charted-binance-coin-bnb-surges-towards-250-why-bulls-are-not-done-yet","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/charted-binance-coin-bnb-surges-towards-250-why-bulls-are-not-done-yet\/","title":{"rendered":"Charted: Binance Coin (BNB) Surges Towards $250, Why Bulls Are Not Done Yet"},"content":{"rendered":"<p><em>Binance coin price is up over 35% and it is extended its rally above $200 against the USDT. BNB traded to a record high at $238 and it seems like there are chances of more upsides.<\/em><\/p>\n<ul>\n<li>Binance coin price extended its rally above the $175 and $200 resistance levels against the USDT.<\/li>\n<li>The price traded to a new all-time high at $238 and it settled well above the 100 simple moving average (4-hours).<\/li>\n<li>There was a break above a couple of bullish continuation patterns at $170 and $200 on the 4-hours chart of the BNB\/USDT pair (data source from Binance).<\/li>\n<li>There is consolidating gains and it is likely to continue higher towards $250 and $275.<\/li>\n<\/ul>\n<h2>Binance Coin Price Rallies 35%<\/h2>\n<p>In the past few days, binance coin gained a strong bullish momentum above the $100 level. BNB price outperformed bitcoin and Ethereum, with massive gains.<\/p>\n<p>It even broke the $150 and $175 resistance levels. During the recent rally, there was a break above a couple of bullish continuation patterns at $170 and $200 on the 4-hours chart of the BNB\/USDT pair. The pair even surged above the $200 and $210 levels.<\/p>\n<p>It traded to a new all-time high at $238 and it settled well above the 100 simple moving average (4-hours). BNB is currently correcting gains and testing the $225 level.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/02\/Binance-Coin-BNB-3.png\"><\/p>\n<p>Source: BNBUSDT on TradingView.com<\/p>\n<p>The 23.6% Fib retracement level of the recent rally from the $189 swing low to $238 high is acting as a strong support. If there are any more losses, the price could decline towards the $210 level.<\/p>\n<p>On the upside, the $240 level is a short-term hurdle. The next major resistance is near the $250 level. A clear break above the $250 level will most likely open the doors for a sharp increase towards the $285 and $300 levels in the near term.<\/p>\n<h2>Dips Supported in BNB?<\/h2>\n<p>If BNB fails to continue higher above $240 and $250, there could be a downside correction. The first major support is near the $225 level.<\/p>\n<p>The next major support is near the $210 level. It is close to the 50% Fib retracement level of the recent rally from the $189 swing low to $238 high. Any more losses might call for a test of $200.<\/p>\n<p>Technical Indicators<\/p>\n<p>4-Hours MACD &ndash; The MACD for BNB\/USDT is gaining momentum in the bullish zone.<\/p>\n<p>4-Hours RSI (Relative Strength Index) &ndash; The RSI for BNB\/USDT is currently in the overbought zone.<\/p>\n<p>Major Support Levels &ndash; $225, $210 and $200.<\/p>\n<p>Major Resistance Levels &ndash; $240, $250 and $300.<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/bnb\/binance-coin-bnb-surges-towards-250\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance coin price is up over 35%<\/p>\n","protected":false},"author":3,"featured_media":113491,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Charted: Binance Coin (BNB) Surges Towards $250, Why Bulls Are Not Done Yet - 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