Will Bullish Momentum Return? BNB Sustains Above Support
BNB is consolidating over $620. The price is stabilizing and may rise over $675 resistance.
BNB pricing is battling over $700.
The price is below $680 and the 100-hourly SMA.
On the hourly BNB/USD chart, a negative trend line with resistance at $675 is forming.
To rise soon, the pair needs hold above $640.
BNB Price Supports
A negative pullback gave BNB price support near $620. It is recovering Ethereum and Bitcoin losses. Before bears formed at $695, prices rose over $675.
It fell below $680 and $675. The price fell below the 50% Fib retracement level of the $619 swing low to $693 high recovery wave. On the hourly BNB/USD chart, a negative trend line with resistance at $675 is forming.
The price is below $675 and the 100-hour SMA. Bulls are presently active at the 76.4% Fib retracement level of the $619 swing low to $693 high rebound wave.
A new rise might encounter resistance between $675 and the trend line. Around $692 is the next resistance. A decisive break over $692 might boost prices. In this situation, BNB may reach $705.
BNBUSD Price Source: TradingView.com
A closing over $705 barrier might lead to a rise above $720. More gains may challenge $735 soon.
Another Dip?
BNB may decrease if it fails to break $675 barrier. Near $640 is first downside support. Near $625 is the next important support.
The major support is $620. If the price breaks below $620, it might fall to $612. More losses might cause a drop to $600.
Tech Indicators
Our hourly MACD for BNB/USD is falling in the negative zone.
Hourly RSI (Relative Strength Index): BNB/USD is over 50.
Major Support Levels: $640, $620.
Key Resistance Levels: $675, $692.
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