Is BNB Price About to Rise Again?

The BNB price is holding at $725. Positive signals suggest the stock might break $740 barrier.

BNB began a downtrend from $800 barrier.
The price is over $700 and the 100-hour SMA.

The hourly BNB/USD data shows a negative trend line with resistance at $725.

To rise soon, the pair needs hold above $715.

BNB Price Supports

Like Ethereum and Bitcoin, BNB price rose after closing over $700. Bulls pushed the price beyond $720 and $750 barrier.

Finally, price tested $800. Before falling, prices reached $794. Prices fell below $750 and $740. However, pricing is maintaining gains over $700. The price has created a low around $688 and is stabilizing above the 23.6% Fib retracement level of the decline from the $795 swing high.

The price is over $700 and the 100-hour SMA. A new advance may encounter resistance at $725. On the hourly BNB/USD chart, a negative trend line with resistance at $725 is forming.

Near $740 is the next resistance. It is around the 50% Fib retracement of the $795 swing high to $688 low decline. A decisive break over $740 might boost prices.

In this situation, BNB may reach $750. A closing over $750 might lead to a surge toward $785. If gains continue, $800 may be tested.

Another Dip?
BNB might fall again if it fails to break $725. Around $715 is first downside support. Near $700 is the next big support.

The major support is $685. If the price breaks $685, it might fall below $665. More losses might cause a drop to $650.

Tech Indicators

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

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

Major Support Levels: $715, $700.

Major resistance levels: $740, $750.#Share1BNBDaily #AltcoinMarketWatch #CryptoMarketHype $BNB