#BNB price analysis

BNB tried to break out of the $722 overhead resistance on Dec. 27, but the bears held their ground.

Repeated failure to rise above $722 increases the possibility of a break below the 20-day EMA ($689). If that happens, the BNB/USDT pair could slide to the 50-day SMA ($668) and later to the solid support at $635. This level is expected to attract buying by the bulls, which could keep the pair range-bound between $635 and $722 for a while.

If the price rebounds off the 20-day EMA, the bulls will again attempt to push the pair above $722. If they succeed, the pair may rise to $760 and thereafter to the solid resistance at $794.