- Binance mint price is gaining bullish momentum above the USD 32.00 resistance against the USDT.
- The price is testing a major hurdle near USD 35.50 and the previous swing high.
- There was a break above a crucial bearish trendline with resistance near $ 28.00 on the 4-hour chart of the BNB / USDT pair (Binance data source).
- Bitcoin’s price is consolidating above USD 23,000 and it may continue to rise.
Binance Mint Price with positive signs
There was a break above a pivotal bearish trendline with resistance at $ 28.00 on the 4-hour chart of the BNB / USDT pair. The pair gained speed above the $ 30.00 level and the 100 easy moving average (4 hours). There was also a break above the 61.8% Fib retracement level of the downward move from the high of $ 35.49 to the low of $ 26.67.
BNB is now trading above the USD 35.00 level, with an upward angle. It is now testing a major resistance near USD 35.50 and the previous swing high.
Source: BNBUSDT on TradingView.com
If there is a clear break above the USD 35.50 resistance, there could be a strong rise. The next big resistance is near USD 37.50. It is close to the 1.236 Fib expansion level of the downward move from the $ 35.49 high to $ 26.67 low.
The next big stop for the bulls could be near the USD 40.00 level. Even more benefits may be limited in the short term unless bitcoin clears the USD 25,000 level.
Dips supported in BNB
If BNB didn’t clear the USD 35.50 and USD 35.60 resistance levels, it could start a downside correction. An initial support is near USD 34.50.
The first major support is near the USD 32.00 level, below which the price may extend its decline. In the case mentioned, the price may 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.
Key Support Levels – USD 34.50, USD 32.50 and USD 32.00.
Major Resistance Levels – USD 35.50, USD 37.50 and USD 40.00.