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Binance coin price surged higher and traded to a new all-time high close to $40.00. BNB price remains in a strong uptrend and it could continue to rise versus USD and bitcoin.

  • Binance coin price tested the $40.00 resistance level before correcting lower.
  • There are two important bullish trend lines forming with support near $35.50 on the 2-hours chart.
  • BNB price is likely to climb above the $38.00 and $40.00 resistances in the near term.

Binance Coin Price

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Binance Coin Price Analysis (BNB to USD)

As discussed in one of the previous analyses, binance coin price gained bullish momentum and tested the key $40.00 barrier. A new all-time high was formed near $40.80 before BNB price corrected lower. Overall, the crypto market, including bitcoin, Ethereum and ripple remain well supported for more gains.

Binance Coin Price Analysis (BNB to USD)

Click to Enlarge Chart

Looking at the 2-hours chart of BNB/USD, the pair surged above the $36.00 and $38.00 resistance levels. There was also a close above the $36.00 level and the 25 simple moving average (2-hours).

Finally, there was a clear break above the $40.00 level and the price traded to a new all-time high was formed near $40.80. Later, it corrected lower sharply below the $38.00 level.


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However, the $35.00 support level acted as a strong buy zone. Moreover, there are two important bullish trend lines forming with support near $35.50 on the same chart. The price is currently trading above the $36.00 level plus the 23.6% Fib retracement level of the latest drop from the $40.86 high to $34.77 low.

On the upside, there is a major resistance forming near $38.00 and a bearish trend line. Besides, the 50% Fib retracement level of the latest drop from the $40.86 high to $34.77 low is also near $38.00.

Therefore, if there is a successful close above $38.00, the price is likely to climb above the $38.50 and $39.00 levels. The main hurdle is near the $40.00 level, above which binance coin price could even surpass the last swing high near $40.85 in the coming sessions.

The market data in the USD is calculated by TradingView, Binance.


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Posted by Dr. Latika Mehrotra

Ph.D in Data Mining, Blockchain enthusiast, and passionate about technology and science. Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.


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