Binance Coin Ready to Skyrocket? Key Resistance Break Could Trigger Massive Surge!

The #Binance Coin price on the 4-hour chart is showing promising bullish momentum, as evidenced by recent action and technical indicators. The closing prices over the last five sessions suggest increasing buying pressure as #BNB approaches key resistance levels.

The 9 EMA has been steadily rising from $600.23 to $615.32, indicating a strong short-term bullish trend. Similarly, the 20 EMA has also been climbing, from $598.71 to $607.32, reinforcing the medium-term bullish sentiment. The convergence of these EMAs suggests that the recent upward momentum is well-supported and could continue if buying interest persists.

The MACD indicator further supports the bullish outlook. MACD values have increased significantly from 1.12 to 6.74, with the MACD line consistently above the signal line. Meanwhile, the histogram values also reflect growing bullish momentum, peaking at 3.77 in the last session. This divergence between the MACD and signal line indicates strong upward momentum and potential for further gains.

RSI levels have remained above 50, peaking at 79.47 before slightly retreating to 78.31. This sustained RSI above 70 suggests that BNB is in overbought territory, which could lead to a short-term correction or consolidation. However, the overall bullish trend remains intact as long as the RSI stays above 50.

Key levels to watch include the immediate resistance at $630.5. A break above this level could see BNB testing the next resistance at $632.7. On the downside, strong support levels are at $612.5 and $600.2, with a critical support level at $599.3. These levels provide potential entry and exit points for traders. $BNB #altcoins #BullorBear
The full analysis and trade strategy were originally posted on ecoinimist.com.