The price of #BNB began to rise again after finding support around the $545
The price is above $560 and the 100 SMA.
A crucial contracting triangle with resistance at $585 forms on the 4-hour #BNB/USDT chart.
The pair may rise if it breaks $590 resistance.
BNB price found support at $545 after falling from $620. The price rose from $546.1, unlike Ethereum and Bitcoin.
Above $560 and $565 resistance levels. Bulls broke the 23.6% Fib retracement level on the $619 swing high to $546 low decline. The price is above $560 and the 100 SMA.
Resistance around $585 is immediate. The 4-hour BNB/USD chart shows a significant contracting triangle with resistance at $585. The 50% Fib retracement level of the decline from the $619 swing high to the $546 low is approaching.
Around $590 is the next resistance. A decisive break over $590 might boost prices. In this situation, BNB may reach $620. A closing over $620 might lead to a stronger move above $640. Any more increases may challenge $700 in the coming days.
BNB may fall again if it fails to break $590 barrier. The $555 level and trend line provide first downward support.
Near $545 is the next big support. The major funding is $532. If the price breaks below $532, it might fall below $500. More losses might cause a drop to $465.
4-Hours MACD – BNB/USD MACD is rising in the positive zone.
4-Hours RSI – BNB/USD's RSI is over 50.
Major Support Levels: $555, $545, $532.
Major Resistance Levels: $585, $590, $620.
