The Price of $BNB Could Have Another Opportunity To Go On a Bullish Streak
BNB Price Could Continue Rising.
BNB price is trying to rise from $515. If price breaks $572 barrier, positive momentum may develop.
After finding support at $515, BNB price rose again.
The price is below $555 and the 100 SMA.
BNB/USD broke above a negative trend line with resistance at $540 on the 4-hour chart.
If it breaks $572 barrier, the pair may rise.
BNB Price Struggles
BNB price found support at $515 after a drop below $550. Like Ethereum and Bitcoin, the price recovered from $513.6.
Above $525 and $530 resistance levels. Bulls broke the $540 pivot level and 23.6% Fib retracement level of the decline from the $630 swing high to the $513 low. The 4-hour BNB/USD chart also broke above a negative trend line with resistance at $540.
Price remains below $550 and the 4-hour SMA. Resistance around $555 is immediate. The 50% Fib retracement level of the decline from the $630 swing high to the $513 low is $572, the next resistance.
A decisive break over $572 might boost prices. In this situation, BNB may reach $600. A closing over $600 might lead to a stronger move above $630. Any more increases may test $650 in the coming days.
Another Fall?
BNB may decrease if it fails to break $572 barrier. Near $532 is first downside support.
Near $520 is the next big support. The major funding is $515. If the price breaks below $515, it might fall below $500. More losses might cause a drop to $465.
Tech Indicators
4-Hour MACD – BNB/USD MACD is falling in the positive zone.
4-Hours RSI – BNB/USD's RSI is below 50.
Major Support Levels: $532, $520, $515.
Major Resistance Levels: $555, $572, $600.
