{"id":114482,"date":"2021-02-26T07:41:36","date_gmt":"2021-02-26T07:41:36","guid":{"rendered":"https:\/\/precoinnews.com\/?p=114482"},"modified":"2021-02-26T07:41:36","modified_gmt":"2021-02-26T07:41:36","slug":"charted-binance-coin-bnb-steadies-above-200-why-it-could-rally-again","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/charted-binance-coin-bnb-steadies-above-200-why-it-could-rally-again\/","title":{"rendered":"Charted: Binance Coin (BNB) Steadies Above $200, Why It Could Rally Again"},"content":{"rendered":"<p><em>Binance coin price corrected sharply lower towards the $200 support against the USDT. BNB is consolidating and it is likely to rally again above $250 and $280.<\/em><\/p>\n<ul>\n<li>Binance coin price started a strong decline from a new all-time high at $348 against the USDT.<\/li>\n<li>The price declined over $100, but it remained stable above the 100 simple moving average (4-hours).<\/li>\n<li>There is a major contracting triangle pattern forming with resistance near $250 on the 4-hours chart of the BNB\/USDT pair (data source from Binance).<\/li>\n<li>The pair could start another rally if there is a clear break above $250 and $280.<\/li>\n<\/ul>\n<h2>Binance Coin Price Holding Key Support<\/h2>\n<p>There was an upside extension in binance coin above the $250 and $300 levels. BNB price even broke the $320 level and traded to a new all-time high at $348.<\/p>\n<p>Recently, there was a sharp decline in bitcoin, ethereum, and altcoins. BNB also corrected lower sharply and broke a couple of important support at $300. It even broke the $250 support level and spiked below the $200 zone.<\/p>\n<p>A low was formed near $187 before there was a strong recovery. The price climbed above $250, but it failed to gain strength for a push above $300. A high is formed near $280 and the price is currently consolidating. It traded below the 50% Fib retracement level of the recent wave from the $187 swing low to $280 high.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/02\/Binance-Coin-BNB-5.png\"><\/p>\n<p>Source: BNBUSDT on TradingView.com<\/p>\n<p>An initial support is near the $225 level. It is close to the 61.8% Fib retracement level of the recent wave from the $187 swing low to $280 high. It seems like there is a major contracting triangle pattern forming with resistance near $255 on the 4-hours chart of the BNB\/USDT pair.<\/p>\n<p>A clear upside break above the triangle resistance and $260 could open the doors for a fresh increase. The next key resistance is near the $280 level. The main barrier is at $300, above which the price could surge towards $350.<\/p>\n<h2>Dips Supported in BNB?<\/h2>\n<p>If BNB fails to continue higher above $255 and $260, there could be a fresh downside correction. The first major support is near the $225 level.<\/p>\n<p>The next major support is near the $210 level or the triangle trend line. A downside break below the triangle support and $200 might call for a sharp decline towards the $150 support.<\/p>\n<p>Technical Indicators<\/p>\n<p>4-Hours MACD &ndash; The MACD for BNB\/USDT is slowly moving in the bullish zone.<\/p>\n<p>4-Hours RSI (Relative Strength Index) &ndash; The RSI for BNB\/USDT is currently close to the 50 level.<\/p>\n<p>Major Support Levels &ndash; $225, $210 and $200.<\/p>\n<p>Major Resistance Levels &ndash; $250, $260 and $280.<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/bnb\/binance-coin-bnb-steadies-above-200\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance coin price corrected sharply lower towards<\/p>\n","protected":false},"author":3,"featured_media":114481,"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 - 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