Binance bitcoin against the USDT. BNB could rally further if it clears the $35.50 resistance zone in the near term.
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Source: BNBUSDT on TradingView.com
If there is a clear break above the $35.50 resistance, there could be a sharp increase. The next major resistance is near the $37.50 level. It is close to the 1.236 Fib extension level of the downward move from the $35.49 high to $26.67 low.
The next major stop for the bulls could be near the $40.00 level. Any more upsides might be limited in the short term unless bitcoin clears the $25,000 level.
Dips Supported in BNB
If BNB fails to clear the $35.50 and $35.60 resistance levels, it could start a downside correction. An initial support is near the $34.50 level.
The first major support is near the $32.00 level, below which the price might extend its decline. In the stated case, the price could revisit the $30.00 support zone.
4-Hours MACD – The MACD for BNB/USDT is gaining momentum in the bullish zone.
4-Hours RSI (Relative Strength Index) – The RSI for BNB/USDT is currently well above the 50 level.
Major Support Levels – $34.50, $32.50 and $32.00.
Major Resistance Levels – $35.50, $37.50 and $40.00.