BNB Price Gains Momentum Aiming for $900 Resistance
BNB Price Analysis
- BNB price is above $865, showing positive momentum.
- Current trading price exceeds $870 and the 100-hourly simple moving average.
- A bullish trend line supports BNB at $874 on the hourly chart.
- Price must maintain above $870 for potential increases.
Recent Performance
BNB established a base over $840 and increased past $850 and $865. It surpassed the $875 resistance with a peak at $884 and is consolidating gains. The price remains above the 23.6% Fib retracement level from the $841 low to the $884 high.
Potential resistance levels are at $882 and $885. A breakthrough above $885 could lead to testing $892 and possibly $900. Further gains might reach $920.
Possible Downside Risks
If BNB does not surpass $885, it may decline. Initial support is at $875, with key support at $865 (50% Fib retracement) and major support at $855. A drop below $855 could push the price toward $872 or lower to $835.
Technical Indicators
Hourly MACD indicates a decrease in bullish momentum. The RSI is above 50, suggesting favorable conditions.
Major Support Levels: $875 and $865
Major Resistance Levels: $885 and $900