BNB Eyes $900 Breakthrough as Momentum Builds
BNB, Binance Coin, is currently demonstrating strong bullish momentum, moving steadily above the crucial $865 mark. The cryptocurrency is exhibiting positive indicators and traders are keenly watching for a potential surge past the significant $900 resistance level in the immediate future. This upward trajectory follows a period of consolidation, suggesting renewed strength in the market.
BNB Price Regains Bullish Stride
After establishing a solid foundation above the $840 threshold, BNB initiated a fresh ascent, outperforming major cryptocurrencies like Ethereum and Bitcoin. The price has successfully climbed past the $850 and $865 levels, clearing the $875 resistance zone and hitting a recent high of $884. Currently, BNB is consolidating these gains, trading comfortably above $875 and the 100-hourly simple moving average. A key bullish trend line is also forming on the hourly chart, providing crucial support around $874. For the upward momentum to continue, maintaining a position above $870 is essential. Resistance is anticipated near $882 and $885, with a definitive break above $885 potentially paving the way for a test of the $892 and eventually the psychological $900 barrier. Further gains could see BNB challenging the $920 level.
Potential for a Pullback and Key Support Levels
Despite the bullish outlook, the possibility of a pullback remains if BNB fails to conquer the $885 resistance. Initial downside support lies near $875, followed by a more substantial support at $865, which aligns with the 50% Fibonacci retracement level of its recent upward move. The primary support zone for BNB is identified at $855. A breach below this level could trigger a decline towards $872, and potentially a more significant drop to the $835 mark if selling pressure intensifies. Technical indicators suggest a mixed picture; while the Hourly MACD is losing some momentum in the bullish zone, the Hourly RSI remains above the 50 level, indicating that buyers still hold an advantage. Major Support Levels: $875, $865 Major Resistance Levels: $885, $900
