Strict editorial policy that focuses on accuracy, relevance, and impartiality
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
BNB price is consolidating losses below the $850 zone. The price is now facing hurdles near $855 and might start another decline in the near term.
After a steady increase, BNB price failed to clear the $868 zone. There was a downside correction below the $865 and $855 levels, like Ethereum and Bitcoin.
The price even dipped below $850 and tested $842. A low was formed at $842 and the price is now attempting a fresh increase. There was a move above the 23.6% Fib retracement level of the downward move from the $864 swing high to the $842 low.
The price is now trading below $850 and the 100-hourly simple moving average. Besides, there is a short-term contracting triangle forming with support at $845 on the hourly chart of the BNB/USD pair.
On the upside, the price could face resistance near the $850 level. The next resistance sits near the $855 level and the 61.8% Fib retracement level of the downward move from the $864 swing high to the $842 low. A clear move above the $855 zone could send the price higher.
In the stated case, BNB price could test $865. A close above the $865 resistance might set the pace for a larger move toward the $880 resistance. Any more gains might call for a test of the $888 level in the near term.
If BNB fails to clear the $855 resistance, it could start another decline. Initial support on the downside is near the $845 level. The next major support is near the $842 level.
The main support sits at $835. If there is a downside break below the $835 support, the price could drop toward the $820 support. Any more losses could initiate a larger decline toward the $800 level.
Technical Indicators
Hourly MACD The MACD for BNB/USD is losing pace in the bullish zone.
Hourly RSI (Relative Strength Index) The RSI for BNB/USD is currently below the 50 level.
Major Support Levels $842 and $835.
Major Resistance Levels $855 and $865.