BNB support level is solid: bullish signals emerging, is a rebound imminent? [Question][Question]
BNB is at $620, aiming for $675, after a downward rebound was pressured by bears and broke the level. Currently, $675 is encountering resistance and the price is low, but bulls are active at the 76.4% retracement level.
If it goes up, $675 and the trend line will face pressure, with $692 as the next resistance. If broken, we can expect to test $705, and if it closes above that, it may push towards $720 and briefly explore $735.
If BNB cannot break the $675 resistance level, it may initiate a new downward trend.
Initial support on the downside is around $640, the next major support is around $625, and the key support is $620.
If it breaks below $620, the price may drop to $612, and if it continues to fall, it could significantly drop to $600.
In terms of technical indicators, the hourly MACD is losing momentum in the bearish zone, and the hourly RSI is above the 50 level.
Main support levels are $640 and $620, while main resistance levels are $675 and $692.
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