{"id":1235,"date":"2024-11-15T05:11:04","date_gmt":"2024-11-15T05:11:04","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/bnb-price-poised-for-takeoff-will-it-be-the-next-to-rally\/"},"modified":"2024-11-15T05:11:04","modified_gmt":"2024-11-15T05:11:04","slug":"bnb-price-poised-for-takeoff-will-it-be-the-next-to-rally","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/bnb-price-poised-for-takeoff-will-it-be-the-next-to-rally\/","title":{"rendered":"BNB Price Poised for Takeoff: Will It Be The Next to Rally?"},"content":{"rendered":"<p><em>BNB price struggled to clear the $665 resistance zone. The price is consolidating and might aim for a fresh increase above the $635 level.<\/em><\/p>\n<ul>\n<li>BNB price started a downside correction from the $665 resistance zone.<\/li>\n<li>The price is now trading below $640 and the 100-hourly simple moving average.<\/li>\n<li>There is a connecting bullish trend line forming with support at $620 on the hourly chart of the BNB\/USD pair (data source from Binance).<\/li>\n<li>The pair must stay above the $600 level to start another increase in the near term.<\/li>\n<\/ul>\n<h2>BNB Price Holds Support<\/h2>\n<p>After a close above the $620 level, BNB price extended its increase. However, upsides were limited above $660 and the price remained capped, unlike Ethereum and Bitcoin.<\/p>\n<p>There was a move below the $632 and $620 levels. However, the price is now holding gains above the $600 level. A low was formed at $616 and the price is now consolidating near the 23.6% Fib retracement level of the downward move from the $661 swing high to the $616 low.<\/p>\n<p>The price is now trading below $620 and the 100-hourly simple moving average. There is also a connecting bullish trend line forming with support at $620 on the hourly chart of the BNB\/USD pair.<\/p>\n<p>If there is a fresh increase, the price could face resistance near the $626 level. The next resistance sits near the $638 level or the 50% Fib retracement level of the downward move from the $661 swing high to the $616 low. A clear move above the $638 zone could send the price higher.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"wp-image-653231 size-full\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/11\/Binance-Coin-BNB-1.png?resize=1024%2C478\" alt=\"BNB Price\" width=\"1024\" height=\"478\" loading=\"lazy\" \/><\/p>\n<p>In the stated case, BNB price could test $650. A close above the $650 resistance might set the pace for a larger move toward the $665 resistance. Any more gains might call for a test of the $680 level in the near term.<\/p>\n<h2>More Losses?<\/h2>\n<p>If BNB fails to clear the $638 resistance, it could start another decline. Initial support on the downside is near the $620 level and the trend line. The next major support is near the $615 level.<\/p>\n<p>The main support sits at $600. If there is a downside break below the $600 support, the price could drop toward the $585 support. Any more losses could initiate a larger decline toward the $565 level.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD \u2013 The MACD for BNB\/USD is losing pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BNB\/USD is currently below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $620 and $615.<\/p>\n<p>Major Resistance Levels \u2013 $638 and $650.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BNB price struggled to clear the $665 resistance zone. The price is consolidating and might aim for a fresh increase above the $635 level. BNB price started a downside correction from the $665 resistance zone. The price is now trading below $640 and the 100-hourly simple moving average. There is a connecting bullish trend line&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1236,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[442],"tags":[716,443,717,718,445,446],"class_list":["post-1235","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bnb","tag-binance-coin","tag-bnb","tag-bnb-price","tag-bnbbtc","tag-bnbusd","tag-bnbusdt"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1235","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=1235"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1235\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/1236"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=1235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=1235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=1235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}