BNB Price to Rise: Next Big Move?

BNB pricing struggled over $600. The price is consolidating gains and may rise above $605.

BNB started a downtrend from $612 barrier.
The price is above $590 and the 100-hourly SMA.

BNB/USD's hourly chart shows a bullish trend line with support at $595 (Binance data).
To rise soon, the pair needs stay above $588.

BNB Price Supports

BNB price rose after closing above $585. Unlike Ethereum and Bitcoin, upsides were limited over $610 and capped.

A drop below $605 and $600 occurred. The price even fell below the 23.6% Fib retracement level of the $543 swing low to $611 high upward surge. Recently, the price has held gains above $580.

The price is above $595 and the 100-hourly SMA. On the hourly BNB/USD chart, a positive trend line connects to $595 support.

A new advance may encounter resistance near $605. Around $612 is the next resistance. A decisive break above $612 might boost prices. In this situation, BNB may reach $620. A closing above $620 barrier might lead to a surge toward $632. More gains may test $650 soon.

More Losses?
BNB may fall again if it fails to break $605 resistance. The trend line and $595 level provide initial downward support. The next key support is $578, the 50% Fib retracement level of the rise from the $543 swing low to the $611 high.

The major funding is $570. If the price breaks below $570, it could fall to $560. More losses might cause a drop to $550.

Tech Indicators

Hourly MACD - BNB/USD MACD is falling in the bullish zone.

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

Major Support Levels: $595, $578.

$605–$612 are major resistance levels.

#BNB #FedRateStrategy #NovemberMarketAnalysis $BNB