BNB Price Analysis
BNB is trending up from $499 on August 12, showing that the bulls are attempting to form higher lows.
If the bulls push the price above the 20-day exponential moving average ($528), it will strengthen their buying momentum.
Subsequently, the BNB/USDT pair may touch the downtrend line, which may form a strong resistance.
If the price encounters resistance at the downtrend line and turns down, the bears will again try to push the price below $495. If successful, the next support may be at $460.
On the other hand, if the price breaks out and closes above the downtrend line, it indicates a reduction in selling pressure and the pair may rise to $605 and further attempt a rally to $635.
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