Binance coin prices found support at $240 against the US Dollar and surged above $260. The coin might aim more upside towards the $300 level.
Binance coin price started a recovery wave from the $240 support against the US Dollar. The price is now trading at $269.
The price is trading above $265 and has been above the 100 simple moving average (4 hours) for the past few hours.
The pair might rise and further scale above the $280 resistance zone.
Binance coin price climbs higher
For the past week, the Binance coin price formed a support base above the $240 level. There was a strong recovery wave that started above the $250 resistance zone.
The BNB token traded as high as $283 before consolidating its gains and is now trading above $265, near the 100 simple moving average (4 hours) and the 23.6% Lie retracement level of the Vertical move from swing low at $240.5 to high at $283.4.
On the potential gain, the bears are safeguarding the $280 and $285 opposition levels. The next major resistance is located at $292, above which the price is likely to test $300 in the near term. Any further gains could propel the price toward the $320 level.
Does BNB support price declines?
If BNB fails to clear the $280 resistance, a downside correction might begin. Support on the downside is near the $265 level.
The first key support is at $262. A break below this level could see an extended drop toward the $240 support.
BNB/USD MACD is sloping up into bullish territory.
The RSI for BNB/USD is currently above 50, which suggests that the cryptocurrency is in a bullish trend.
Currently, BNB support levels are $265.5, $262.5, & $255.
Key resistance levels – $280, $285, and $300.
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