BNB Technical Analysis 23/11/2024

BNB bounced from the 50-day SMA ($594) on November 21, indicating positive sentiment and bulls taking advantage of dips to buy.

The BNB/USDT pair could rise to $667, a short-term resistance level to watch. If this level is broken, the price could advance to $722. This could be a strong barrier, but if it is broken, the pair could rise to $810.

Conversely, if the price breaks the 50-day SMA support, the price could fall to the rising trend line. The deeper the drop, the longer it will take to recover.