BNB price (Binance coin) stayed above the main $202 support against the US Dollar. The price is recovering and might rally if there is a move above $220.

• Binance coin price is slowly moving higher above the $212 level against the US Dollar.
• The price is now trading above $214 and the 100 simple moving average (4 hours).
• There was a break above a major bearish trend line with resistance near $213 on the 4-hour chart of the BNB/USD pair (data source from Binance).
• The pair might gain bullish momentum if there is a close above $220.

Binance Coin Price Starts Recovery

After a major decline, BNB price managed to stay above the key support at $202. The price traded as low as $204 and recently started a decent increase, like Bitcoin and Ethereum.

There was a move above the $208 and $210 resistance levels. The price climbed above the 23.6% Fib retracement level of the main decline from the $234 swing high to the $204 low. Besides, there was a break above a major bearish trend line with resistance near $213 on the 4-hour chart of the BNB/USD pair.

BNB price is now trading above $214 and the 100 simple moving average (4 hours). On the upside, it is facing resistance near the $219.50 and $220 levels.

Source: BNBUSD on TradingView.com

The 50% Fib retracement level of the main decline from the $234 swing high to the $204 low is also near $220 to act as a hurdle. A clear move above the $220 zone could send the price further higher. The next major resistance is near $228, above which the price might rise toward $235. A close above the $235 resistance…