In the last few days, bitcoin, Ethereum, and binance coins have extended their gains. A support base above the $120 level was formed by the BNB price and began another powerful upward move.
The price cleared the resistance level of $150 and settled just above the simple moving average of 100 (4-hours). On the 4-hour chart of the BNB/USDT pair, there was also a break above a significant bearish trend line with resistance around $ 130.
About 20 percent rallied the pair and it also spiked over the $175 level. Near $176, a new all-time high is created and the price is consolidating gains at present. The 23.6 percent Fib retracement stage of the upward step from the $126 swing low to the $176 high is being tested.
According to newsbtc.com, the next significant support is near the $150 zone. From the $126 swing low to $176 high, it’s similar to the 50 percent Fib retracement stage of the upward move.
Therefore, in the near term, dips below the $150 level may find a strong purchasing interest. Any further losses may open the doors for a push towards the $125 level of support.
