Bitcoin

Resistance

BNB price is struggling to clear the $320 resistance zone. It might decline toward the $288 support zone before the bulls aim for another increase. 
<ul> 
 <li>BNB price is struggling to gain traction above the $320 resistance.</li> 
 <li>The price is now trading near $310 and the 100 simple moving average (4 hours).</li> 
 <li>There is a major declining channel or a bullish flag pattern forming with resistance near $316 on the 4-hour chart of the BNB/USD pair (data source from Binance).</li> 
 <li>The pair might continue to move up if it stays above the $288 and $282 support levels.</li> 
</ul> 
<h2 id="bnb-price-holds-support">BNB Price Holds Support</h2> 
After forming a base above the $280 level, BNB price started a decent increase. There was a move above the $305 and $315 resistance levels. However, the bears seem to be active near the $320 zone. 
A high was formed near $320 and the price is now correcting gains. However, the downsides are limited compared to <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-faces-uphill-task-43500/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-rejects-2600/" target="_blank" rel="noopener ">Ethereum</a>. There was a move below the $312 level. The price is now approaching the 50% Fib retracement level of the upward move from the $289.4 swing low to the $320.1 high. 
BNB price is now trading near $310 and the 100 simple moving average (4 hours). There is also a major declining channel or a bullish flag pattern forming with resistance near $316 on the 4-hour chart of the BNB/USD pair. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/01/Binance-Coin-BNB-1.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-570071" src="https://www.newsbtc.com/wp-content/uploads/2024/01/Binance-Coin-BNB-1.png?resize=1024%2C461" alt="BNB Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/01/Binance-Coin-BNB-1.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/01/Binance-Coin-BNB-1.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/01/Binance-Coin-BNB-1.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/01/Binance-Coin-BNB-1.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/01/Binance-Coin-BNB-1.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/01/Binance-Coin-BNB-1.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/01/Binance-Coin-BNB-1.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/BNBUSD/" target="_blank" rel="noopener nofollow">BNBUSD on TradingView.com</a> 
Immediate resistance is near the $315 level or the channel region. The next resistance sits near the $320 level. A clear move above the $320 zone could send the price further higher. In the stated case, BNB price could test $340. A close above the $340 resistance might set the pace for a larger increase toward the $350 resistance. Any more gains might call for a test of the $375 level. 
<h2 id="more-downsides">More Downsides?</h2> 
If BNB fails to clear the $315 resistance, it could continue to move down. Initial support on the downside is near the $300 level or the 61.8% Fib retracement level of the upward move from the $289.4 swing low to the $320.1 high. 
The next major support is near the $292 level. The main support sits at $288. If there is a downside break below the $288 support, the price could drop toward the $282 support. Any more losses could initiate a larger decline toward the $262 level. 
Technical Indicators 
4-Hours MACD – The MACD for BNB/USD is losing pace in the bullish zone. 
4-Hours RSI (Relative Strength Index) – The RSI for BNB/USD is currently below the 50 level. 
Major Support Levels – $300, $292, and $288. 
Major Resistance Levels – $315, $320, and $325.

BNB Price Signals Bullish Exhaustion, Are Dips Attractive In Short-term?

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