Binance Coin is already up by 7% when the cryptocurrency reaches the $600 mark. BNB has also breached a technological Bitcoin Triangle, smashing BTC after 0.0105 to BTC after 0.0111.
This week, BNB is doing well as it is today climbing up to the $600 resistance. Last week, this figure was at this stage, but a regular candle over it had not been closed. BNB thus dropped to $477 (.382 Fib & 20-day MA) over the weekend before support was reached.
On Monday, it bound up from the 20-day MA and began going up to 600$ today. This is the highest daily closing price recorded, and a rising triangle trend has been developed. A closing candle above 600 Dollars today will mark a breakup of this triangle and drive BNB to 700 Dollars.
Short term price forecast BNB-USD
The first resistance is $600, which is going forward. Moreover, the resistance lies at 638 dollars (ATH price), 680 dollars and 700 dollars. The $755 (1.272 fiber extension) and $780 resistance are also observed.
The first aid is $560 on the other hand. The bottom limit of the triangle pattern is followed. Below the triangle lies the funding of 520 dollars, 500 dollars, 477 dollars, 430 dollars (.5 Fib).
The RSI is above the middle line which indicates that the bulls dominate the market dynamics. In addition, a bullish crossover signal was also produced by the Stochastic RSI.
BNB/BTC – Triangular Break Out of Bulls
Core levels of support: 0.0034 BTC, 0.00316 BTC, 0.003 BTC.
Levels of key resistors: BTC 0.00371, 0.00386 BTC, 0.00401 BTC.
Against bitcoin, today, after pushing over the model roof at 0.0105 BTC, BNB succeeded in breaking its upward triangle patterns. The cryptocurrency had traded between 0.0105 BTC and 0.00988 BTC over the past week in a narrow range.
The latest breakdown indicates BNB/BTC next step and indicates that the bulls are ready for a second bullish push higher, as they today set new ATH prices at 0.0113 BTC.
BNB-BTC Short Term Price Prediction
The first resistor is 0.0121 BTC in the future (1.272 Fib Extension). The following are: 0,0129 BTC, 0,0135 BTC and 0,0142 BTC (1.618 Fib Extension).
In the other hand, 0.0105 BTC (driangle roof – assist now) is the first support. Followed are 0.0098 BTC, 0.0905 BTC (20-day MA) and 0.00862 BTC, which are supported this week (.382 Fib).
As the bulls retain their momentum dominance after the end of March, the RSI stays above the median axis. A bullish crossover signal was also generated by the Stochastic RSI.