BNB: A rebound journey after the key support level
Since BNB coin pulled back from the high of $585, the market seems to have fallen into a short wait-and-see period. For everyone, whether the key support level of $570 can be maintained has become the key to determine the future trend of BNB.
After a period of decline, the price of BNB has fallen below $580 and the 100-hour moving average. In every market turmoil, new opportunities are born. On the hourly chart of BN, I observed a bullish trend line above the $570 support level, which seems to light a beacon for investors.
If BNB can hold the $570 position, it is expected to start the upward mode again. This round of rise is not only a correction of the previous pullback, but also a reshaping of market confidence. Above $575, the price of BNB has rebounded and even broke through some resistance of the Fibonacci retracement level. However, the market still faces the double test of $580 and the 100-hour simple moving average.
If BNB can successfully break through the important resistance level of $582 in the future, its upward trend will be clearer. At that time, we may see BNB attacking $588, or even higher $600 and $612. Every breakthrough will further enhance market confidence and reflect a firm belief in the future prospects of BNB.
The trend line and $572 will provide solid support for it. Even if the price falls further to $562 or $550, it is only part of the market adjustment, not the end.
