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<a href="https://bitcoinworld.co.in/bnb-price-shows-signs-of-life-but-250-is-the-key-to-more-upsides/" title="BNB Price Shows Signs of Life But $250 Is The Key To More Upsides" rel="noopener noreferrer nofollow"></a>
<ul>
 <li style="font-weight: 400">BNB price is slowly moving higher toward the $250 resistance.</li>
 <li style="font-weight: 400">The price is now trading above $235 and the 100 simple moving average (4 hours).</li>
 <li style="font-weight: 400">There is a key bullish trend line forming with support at $241.5 on the 4-hour chart of the BNB/USD pair</li>
 <li style="font-weight: 400">The pair might gain bullish momentum if there is a clear move above $250.</li>
</ul>
The BNB price avoided a significant drop below $200 and recovered against the US Dollar. It has risen beyond $235 and now confronts numerous obstacles at $245 and $250. The price of BNB is gradually rising toward the $250 resistance level.
<h3 id="span-style-font-weight-400-the-price-of-bnb-has-recovered-by-10-span">The Price of BNB Has Recovered By 10%</h3>
BNB price has started a comeback wave above the $220 resistance in the last several days. The recent uptick in Bitcoin, Ethereum, and other altcoins prompted a little surge in BNB.
The price has been steadily rising above the $232 and $235 barrier levels. The price even approached the $245 resistance level. The price has formed a high near $245.8 and is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward run from the swing low of $222.5 to the high of $245.8.
BNB is also trading above $235 and the four-hour simple moving average of 100. On the 4-hour chart of the BNB/USD pair, a key bullish trend line is forming with support at $241.5.
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If the price rises again, it may encounter resistance near the $245 mark. The next degree of resistance is around $250. A clean break above the $250 level might push the price even higher. In the aforementioned scenario, the BNB price may reach $265. A closing over the $265 resistance level might lay the stage for a greater rise toward the $280 level.
<h3 id="span-style-font-weight-400-downside-correction-span">Downside Correction?</h3>
If <a href="https://coinstats.app/coins/binance-coin/" rel="noopener noreferrer nofollow">BNB</a> fails to clear the $245 resistance, it could start a downside correction. Initial support on the downside is near the $240 level and the trend line.
<figure id="attachment_54473" aria-describedby="caption-attachment-54473" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class=" wp-image-54473" src="https://bitcoinworld.co.in/wp-content/uploads/BNB-Price-Chart-440x300.png" alt="" width="538" height="367" srcset="https://bitcoinworld.co.in/wp-content/uploads/BNB-Price-Chart-440x300.png 440w, https://bitcoinworld.co.in/wp-content/uploads/BNB-Price-Chart-733x500.png 733w, https://bitcoinworld.co.in/wp-content/uploads/BNB-Price-Chart.png 768w" sizes="(max-width: 538px) 100vw, 538px">
 <figcaption id="caption-attachment-54473" class="wp-caption-text">
 BNB Price Chart | Source: <a href="https://coinstats.app/coins/binance-coin/" rel="noopener noreferrer nofollow">Coinstats</a>
 </figcaption>
</figure>
&nbsp;
The next key support is near the $235 level, which is the 50% Fib retracement of the upward advance from the $222.5 swing low to the $245.8 high. If the price breaks below the $235 support, it may fall toward the $226 support. Any further losses could precipitate a greater drop toward the $220 mark.
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote>
The post <a href="https://bitcoinworld.co.in/bnb-price-shows-signs-of-life-but-250-is-the-key-to-more-upsides/" rel="noopener noreferrer nofollow">BNB Price Shows Signs of Life But $250 Is The Key To More Upsides</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

BNB Price Shows Signs of Life But $250 Is The Key To More Upsides

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