• BNB price found support near $300 against the US Dollar and rallied above $320.
• The bulls were active and pushed the price above the $310 and $312 resistance levels.
• BNB is now trading above $320 and the 100 simple moving average (4-hours).

Binance Coin Price Rallies Over 5%

Binance coin price started a steady increase from the $300 support against the US Dollar. The price is now trading above $320 and the 100 simple moving average (4-hours). There was a break above a major contracting triangle with resistance near $320 on the 4-hours chart of the BNB/USD pair (data source from Binance).

Upside Break Above Major Resistance

This past week, BNB price formed a support base above the $300 level. The bulls were active and they were able to pump the price above the $310 and $312 resistance levels. The price is up over 5% in a day and there was a move above the $320 resistance. Besides, there was a break above a major contracting triangle with resistance near $320 on the 4-hours chart of the BNB/USD pair.

Dips Supported in BNB?

If BNB fails to clear the $335 resistance, it could start a downside correction. An initial support on