Ankr, the blockchain infrastructure platform, announced it has now helped the second project launch on BNB Application Sidechains (BAS) — Project Galaxy, a network for developers and organizations to leverage NFTs and digital credential data to build better products and communities on web3. The Ankr platform supported Project Galaxy to create its dedicated ‘GAL Chain’ […]
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After the successful launch of the Ethereum “Merge” on the Kiln testnet on March 15, the community is now excited about the imminent shift to proof-of-stake (PoS). The number of internet queries for the phrase “Ethereum Merge” is now at all-time highs, as per Google Trends.
BNB (Binance coin) price started a fresh rally from the $265 support against the US Dollar. BNB is trading in a positive zone and might soon clear the $350 resistance. Binance coin price gained pace above the $300 and $320 resistance levels against the US Dollar. The price is now trading well above $300 and the 100 simple moving average (4-hours). There are two major bullish trend lines forming with support near $320 and $315 on the 4-hours chart of the BNB/USD pair (data source from Binance). The pair could soon resume its rally unless there is a move below the $300 support zone. Binance Coin Price Remains In Uptrend After forming a base above the $265 level, BNB price started a strong increase. The bulls took control, resulting in a surge above the $280 and $285 resistance levels. The price gained pace after it broke the $300 barrier and the 100 simple moving average (4-hours). Finally, it spiked above the $335 level and formed a new monthly high at $337. Recently, there was a minor downside correction below the $330 level, similar to bitcoin and ethereum. The price tested the 23.6% Fib retracement level of the upward move from the $263 swing low to $337 high. An initial support is near the $320 level. There are also two major bullish trend lines forming with support near $320 and $315 on the 4-hours chart of the BNB/USD pair. Source: BNBUSD on TradingView.com The first major support is near the $312 level. The next major support is near the $300 level or the 50% Fib retracement level of the upward move from the $263 swing low to $337 high. If there is a downside break below the $300 support, there could be an extended decline towards the $280 support. More Upsides in BNB? If BNB fails remains stable above $320 or $300, it could start a fresh increase. On the upside, the $328 and $330 levels are immediate hurdles. The next major resistance is near the $335 level, above which the price is likely to aim a test of the $350 level in the near term. Any more gains might send the price towards the $400 level. Technical Indicators 4-Hours MACD – The MACD for BNB/USD is losing pace in the bullish zone. 4-Hours RSI (Relative Strength Index) – The RSI for BNB/USD is currently well above the 60 level. Major Support Levels – $320, $312 and $300. Major Resistance Levels – $330, $335 and $350.