Bainance coin Analysis (BNB) Wednesday, March 10
After forming a support base above the $ 200 level, Bainance coin started a new upward trend. The BNB has broken the $ 220 resistance and recently crossed the $ 250 resistance area.
This paved the way for a Sharpe rally above the $ 275 and $ 285 resistance levels. BNB traded at $ 297 and is currently undergoing correction. Following this correction, the BNB price fell below the correction level of 23.6% Fibonacci uptrend from $ 214 to $ 297.
The currency is still trading above $ 260 and a simple moving average of 100 (4 hours). The cows are strongly protecting the $ 265 and $ 260 support levels. The next major support is near the $ 255 level, which is near the 50% Fibonacci retracement level of the $ 214 to $ 297 uptrend.
The BNB / USDT 4-hour chart shows a major uptrend with support around $ 245. In the uptrend, cows face significant barriers near the $ 285 and $ 290 levels. The main resistance is still close to the $ 300 level, and above that, the BNB is likely to accelerate further in the short term.
If the BNB fails to reach levels above $ 285 and $ 295, it will face a new downtrend. In this case, the first major support is close to the $ 255 level.
The next major support will be close to the $ 245 level and the trend line. If the price falls below the support line of the trend line, there is a possibility that the price will fall to the support area of $ 220.
The hourly MACD for the BNB / USD pair is gradually accelerating in the uptrend.
The hourly RSI for the BNB / USD pair is above the 50 level.
Main support: $ 265, $ 255 and $ 245
Main resistance: $ 285, $ 295 and $ 300