BNB Price Seeks Recovery: Bulls See Higher Levels

The BNB price is stabilizing around $640. Price is maintaining $625 and may rise over $660 barrier.

BNB began a bearish drop from $685 resistance.
The price is below $650 and the 100-hour SMA.

A significant descending channel with resistance around $660 is formed on the hourly BNB/USD chart.

To rise soon, the pair needs hold above $625.

BNB Price Supports

BNB price rose after closing over $640. Unlike Ethereum and Bitcoin, upsides were restricted over $685 and the price was capped.

It fell below $666 and $650. Price is maintaining gains over $625. The price has created a low at $626 and is stabilizing above the 23.6% Fib retracement level of the decline from the $676 swing high.

The price is below $650 and the 100-hour SMA. A new rise might hit resistance at $650. It is around the 50% Fib retracement level of the $676 swing high to $626 low decline.

Near $660 is the next resistance. On the hourly BNB/USD chart, a significant declining channel with resistance around $660 is forming. A decisive break above $660 might boost prices.

In this situation, BNB may reach $676. A closing above $676 resistance might lead to a surge above $685. If gains continue, $700 may be tested.

More Losses?
BNB may decrease if it fails to break $660 barrier. Initial downside support is $632. Near $625 is the next important support.

The major support is $615. If the price breaks $615, it might fall to $600. More losses might cause a drop to $588.

Tech Indicators

Our hourly MACD for BNB/USD is falling in the negative zone.

Hourly RSI (Relative Strength Index): BNB/USD is below 50.

Major Support Levels: $632, $625.

Key Resistance Levels: $650, $660.

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