The BNB price is approaching the ATH, at least in the BTC chart. Can the BNB rate break the ATH and establish a new high?
BNB price breaks 50-day EMA resistance bullish
BNB Price Chart from Tradingview
The BNB price has been able to rise by around 50% since BNB had established a local low point at around 183.4 USD. With this, the Binance Coin has now also been able to break the 50-day EMA resistance, which now serves as support at around $ 256. If the 50-day EMA support is broken bearishly, significant Fibonacci support is waiting for the BNB price at around $ 240 and $ 215.
Otherwise, Binance Coin will find the next 0.382 Fib resistance at around $289. In addition, the MACD is more bearish on the daily chart, because the histogram has been ticking bearishly lower for several days. The RSI is neutral.
Golden crossover in the 4H chart confirms the uptrend in the short term
BNB Price Chart from Tradingview
In the 4H chart, the Binance Coin price formed a golden crossover, which confirms the trend bullish in the short term. In addition, the 50-4H EMA has been able to serve as support twice in recent days. In addition, the MACD’s histogram is ticking bullish higher and the MACD lines could now cross bullish.
Important for a bullish course is the break of the Golden Ratio at around $ 265, at which BNB is now finding resistance.
Will the BNB rate rise to the 50-week EMA?
BNB Price Chart from Tradingview
The MACD is also bullish in the weekly chart, because the histogram has been ticking bullish higher for a few weeks now, while the MACD lines could now cross bullish. Here, too, the RSI is neutral.
If the BNB price breaks the 0.382 Fib resistance at around $289, significant Fibonacci resistance is waiting for the Binance Coin at around $350. In addition, the 50-week EMA runs there, which also acts as a significant resistance.
For a bullish candlestick formation in the monthly chart, it may not be enough
BNB Price Chart from Tradingview
In the monthly chart, the MACD continues to be clearly bearish, because the histogram ticks bearishly lower and the MACD lines remain bearishly crossed. Again, the RSI gives neither bullish nor bearish signals.
The Binance Coin price could achieve a bullish candlestick formation on the monthly chart, provided that the BNB price rises to around $ 321 within a week and closes above it at the turn of the month. But since there is only one week left at the end of the month, the BNB course may not make it.
For a completely bullish trend reversal, the BNB price must break the Golden Ratio at the $ 500 mark. Only then can the Binance Coin price target new highs.
Against BTC, the BNB rate is about to reach the ATH
BNB Price Chart from Tradingview
Against BTC, BNB is very close to the ATH at around 0.0125 BTC. However, BNB is currently forming a series of lower high points, should BNB correct now. Then BNB finds significant support at the 50-week EMA at around 0.0097 BTC and if this support is broken bearishly, significant Fibonacci support is waiting for the BNB price at around 0.008 BTC.
In addition, BNB is also forming a series of higher lows and the MACD is clearly bullish on the weekly chart. After all, the histogram has been ticking bullish higher for a few weeks and the MACD lines have also crossed bullish. In addition, the RSI is also neutral here and gives neither bullish nor bearish signals.
