#BNB Price Regains Strength As Bulls Target $700
BNB price is trying to rise from $575. Bulls want to break $620 after a 5% gain.
After finding support at $575, $BNB price rose again.
The price is over $600 and the 100 SMA.
On the 4-hour BNB/USD chart, a bullish trend line with support at $587 is formed.
Bullish momentum may result if the pair breaks $620 barrier.
BNB Price May Rise 15%
BNB price found support at $575 after a drop below $600. The price rose from $572.8, unlike Ethereum and Bitcoin.
Above $595 and $600 barrier levels. Bulls beat the $605 pivot. It is up over 5% and exhibiting several strong indicators above the 23.6% Fib retracement line of the latest surge from $572.8 swing low to $618.0 high.
Above $600 and the 100 SMA (4 hours). On the 4-hour BNB/USD chart, a bullish trend line with support at $587 is formed.
Resistance around $618 is immediate. Near $620 is the next resistance. A decisive break above $620 might boost prices. In this instance, BNB may reach $632. A closing over $632 might lead to a stronger move toward $650. Any more increases may challenge $700 in the coming days.
Another Fall?
BNB may fall if it fails to break $620 resistance. Initial downside support is at $600.
Next key support is at $590 and the trend line or 61.8% Fib retracement level of the current advance from the $572.8 swing low to the $618.0 high. The major funding is $575. If the price breaks below $575, it might fall to $562. More losses might cause a drop to $550.
4-Hours MACD – BNB/USD MACD is rising in the positive zone.
4-Hours RSI – BNB/USD's RSI is over 50.
Major Support Levels: $600, $585, $575.
Key Resistance Levels: $620, $632, $650.