Binance coin price is gaining bullish momentum above the $20.50 resistance against the USDT. BNB price action suggests bitcoin could also start a decent upward move if it remains stable above $9,000.<\/p>\n
In the past few sessions, binance coin followed a bullish path above the $19.00 and $20.00 resistance levels. BNB price even settled above the $20.00 resistance area and the 100 simple moving average (4-hours).<\/p>\n
It opened the doors for more gains above the 50% Fib retracement level of the last key decline from the $23.25 high to $17.69 low. The price is now trading above the $21.00 resistance area.<\/p>\n
During the rise, there was a break above a major bearish trend line with resistance near $19.98 on the 4-hours chart of the BNB\/USDT pair. It seems like the bulls are currently facing hurdles near the $21.15 and $21.20 levels.<\/p>\n
Binance Coin Price<\/p>\n
The 61.8% Fib retracement level of the last key decline from the $23.25 high to $17.69 low is also acting as a strong resistance. If binance coin cryptocurrency surges above the $21.15 and $21.20 levels, it could continue to rise towards the $22.00 and $23.00 levels.<\/p>\n
The market sentiment is also likely to improve if the price gains pace above $21.20 and it might help bitcoin in rising steadily towards $9,200 or $9,340.<\/p>\n
If BNB fails to clear the $21.15 and $21.20 resistance levels, it could start a downside correction. An initial support is seen near the $20.50 level. If the bulls fail to defend the $20.50 support, the price might retest the $20.00 support area.<\/p>\n
Any further losses could push the bulls on the back foot and the price is likely to slide towards the $18.80 support level in the near term. Overall, the current price action is positive and there are chances of more gains above $21.20.<\/p>\n
Technical Indicators<\/p>\n
4-Hours MACD The MACD for BNB\/USDT is slowly gaining momentum in the bullish zone.<\/p>\n
4-Hours RSI (Relative Strength Index) The RSI for BNB\/USDT is currently well above the 55 level.<\/p>\n
Major Support Levels $20.50, $20.00 and $18.80.<\/p>\n
Major Resistance Levels $21.15, $21.20 and $22.00.<\/p>\n
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