Analyst Identifies Key Levels For BNB Price Rally To $800
The post Analyst Identifies Key Levels For BNB Price Rally To $800 appeared on BitcoinEthereumNews.com.
Crypto analyst Ali Martinez has identified critical resistance levels that could determine whether Binance Coin (BNB) continues its upward trajectory toward $800. His analysis highlights three major simple moving averages (SMA)—the 50, 100, and 200 SMA—that currently act as strong barriers to further price growth. Additionally, he points to the 0.382 Fibonacci retracement level, a historically significant resistance zone where price reversals have occurred. Key Resistance Levels That Could Drive Binance Coin (BNB) Price Higher According to analyst Ali Martinez, BNB price is facing resistance at key technical levels that must be broken to sustain its upward momentum. The 50, 100, and 200 simple moving averages (SMA) serve as strong resistance zones. These moving averages have historically prevented Binance Coin price from advancing further, acting as key decision points. Martinez also highlights the 0.382 Fibonacci retracement level, which aligns with past resistance zones where BNB price has struggled to break through. This level has often led to price pullbacks, making it a crucial area to monitor. If BNB manages to break above this resistance, the asset could experience a stronger push toward higher price targets. Further adding to these challenges, the TD Sequential indicator reveals resistance trendlines and risk lines that have previously signaled trend reversals. Binance Coin needs to break past these levels to avoid a pullback before any further upside movement. Meanwhile, Binance and the U.S. SEC recently filed a joint motion to pause their legal dispute for 60 days. This development has reduced uncertainty around Binance, providing a positive catalyst for BNB price. Binance also unveiled its 2025 roadmap, outlining plans to integrate artificial intelligence and improve transaction speeds, further supporting the bullish outlook for BNB. Binance Coin Gains Despite Crypto Market Downturn Despite the wider crypto market downturn, BNB has maintained its crypto rally, gaining over…
Filed under: News - @ February 13, 2025 5:26 am