Will BNB Price Takeoff Be the Next Rally?

BNB price failed to break $665 barrier. The price is consolidating and may rise over $635.

BNB began a bearish decline from $665 resistance.
The price is below $640 and the 100-hourly SMA.

On the hourly BNB/USD chart, a positive trend line connects to $620 support.

To rise soon, the pair must stay over $600.

BNB Price Supports
BNB price rose after closing over $620. Unlike Ethereum and Bitcoin, upsides were limited over $660 and the price was capped.

It fell below $632 and $620. Price is maintaining gains over $600. The price has created a low around $616 and is stabilizing near the 23.6% Fib retracement level of the decline from the $661 swing high.

The price is below $620 and the 100-hourly SMA. On the hourly BNB/USD chart, a positive trend line connects to $620 support.

A further advance may encounter resistance at $626. The next obstacle is $638, the 50% Fib retracement level of the decline from the $661 swing high to the $616 low. A decisive break over $638 might boost prices.

In this situation, BNB may reach $650. A closing above $650 barrier might lead to a surge above $665. More gains may challenge $680 soon.

More Losses?

BNB may decrease if it fails to break $638 barrier. The trend line and $620 level provide first downward support. Near $615 is the next important support.

The major support is $600. If the price breaks below $600, it might fall to $585. More losses might cause a drop to $565.

Tech Indicators

Hourly MACD - BNB/USD MACD is falling in the positive zone.

Hourly RSI (Relative Strength Index): BNB/USD is below 50.

Major Support Levels: $620, $615.

Key Resistance Levels: $638, $650.

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