Bulls Could Hit 2024 High After #BNB Price Reclaims $600


BNB price is trying to rise from $550. Price broke $600 barrier and may rise beyond $630.


After breaking $550 barrier, BNB price rose again.


The price is above $580 and the 100 SMA.


The 4-hour BNB/USD chart shows a bullish trend line with support at $592.

Bullish momentum may result if the pair breaks $608-$610 barrier.


BNB Price Rises


BNB price rose after building a base above $520. Ethereum and Bitcoin steadily rose past $550 and $565 barrier levels.


Bulls broke over the $580 pivot level and the 61.8% Fib retracement line of the negative wave from $630 swing high to $512 low. Moreover, the price is above $580 and the 100 SMA (4 hours).


Consolidating close above the 76.4% Fib retracement line of the falling wave from $630 swing high to $512 low. On the 4-hour BNB/USD chart, a bullish trend line with support at $592 is formed.




Resistance around $608 is immediate. Near $630 is the next resistance. A decisive break over $630 might boost prices. In this situation, BNB may reach $650. A closing over $650 might lead to a stronger move above $680. Any more advances may challenge $720 in the coming days.


Dips supported?


BNB may fall if it fails to break $608 resistance. The trend line and $592 provide first downward support.


Near $585 is the next important support. The major funding is $570. If the price breaks below $570, it might fall below $550. More losses might cause a drop to $532.


4-Hours MACD – BNB/USD MACD is rising in the positive zone.


4-Hours RSI – BNB/USD's RSI is over 50.


Major Support: $592, $585, $570.


Major resistance levels: $608, $630, $650.

$BNB #BullorBear #crypto2024