$BNB

BNB Price Analysis: Can the Bulls' Counterattack Reverse the Bearish Trend?

Brothers, BNB's recent trend has been a bit ambiguous! On December 22, BNB broke below the 50-day moving average ($660), and although the bears pushed the price down, they failed to break the support level at $633, indicating strong buying support at low levels.

Now, the bulls are launching a rebound, but the 20-day moving average ($685) below will become their first major hurdle. If the price encounters selling at this moving average, the bears may intensify their attack, trying to pull BNB below the upward trend line. Once it breaks below, BNB could fall to $576, forming a larger decline.

However, there's no need to worry too much! If BNB can break above the 20-day moving average and surpass $685, in the coming days it may oscillate between $635 and $721. If it successfully closes above $721, then the bulls will regain control and open up further upward space!

Currently, BNB's key point is whether it can break above the 20-day moving average at $685. After breaking through, it may oscillate in the range of $635 to $721 in the short term; if it further breaks above $721, the bulls will welcome new upward opportunities!