BNB price is just 10% away from its previous all-time high, up 181.79% this year as it continues to post a strong market performance. However, recent indicators, including ADX and Ichimoku Cloud, suggest that the current uptrend may be losing steam.
While the bullish structure remains intact with key resistance levels within reach, momentum will need to build for BNB to surpass its previous high.
BNB's Current Uptrend May Not Sustain
BNB's ADX is currently at 19, down from above 30 just two days ago, signaling a weakening trend. The ADX, or Average Directional Index, measures the strength of a trend on a scale of 0 to 100 without specifying its direction.
Values above 25 indicate a strong trend, while values below 20 indicate a weak or no trend. The decline in ADX suggests that, although the BNB price is still in an uptrend, the momentum driving it has weakened significantly.
With the ADX at 19, BNB’s current uptrend does not appear to be as strong as in recent days, pointing to a possible period of consolidation or reduced buying pressure.
For the uptrend to regain strength, ADX needs to cross above 25, confirming a momentum recovery. Until then, BNB price may move sideways or face rising resistance in maintaining the bullish trajectory.
BNB Ichimoku Cloud Indicates Mixed Signals
The Ichimoku Cloud chart for BNB is currently showing a mixed trend. The current price is slightly above the Kijun-Sen (orange line) and Tenkan-Sen (blue line), signaling some bullish momentum.
However, prices are hovering near the edge of the cloud (Senkou Span A and B), indicating that the trend is not yet strong. The green cloud ahead suggests some medium-term support, but its relatively flat nature signals limited momentum in both directions.
BNB Ichimoku Cloud. Source: TradingView
For BNB price to regain strong bullish momentum, it needs to break above the Kijun-Sen and away from the edge of the cloud. If it fails to do so and drops below the cloud, it could signal the start of a bearish trend.
Conversely, maintaining the position above the cloud and seeing the Tenkan-Sen cross above the Kijun-Sen could reinforce a stronger uptrend.
BNB Price Forecast: Will BNB Surge More Than 10% and Reach a New All-Time High?
BNB’s EMAs currently show a bullish structure, with the short-term EMAs placed above the long-term EMAs. This balance suggests that the current uptrend is still intact, and if BNB price regains momentum, it could break the important resistance levels at $667 and $687.
A successful breakout of these levels could push the price towards the previous high of $719.84 and possibly set new records. The EMAs continue to support the bullish sentiment as long as the price remains above them.
BNB Price Analysis. Source: TradingView
However, indicators like ADX and Ichimoku Cloud suggest that the uptrend may be weakening. If a downtrend develops, BNB price could retest important support levels at $603 or even $593.
A drop below these support levels could signal a deeper correction, weakening the current bullish structure.
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