BNB Market Insights: Rebound or Decline?

Recently, BNB has attracted attention in the market, with its price movement reaching a critical point. Investors are very concerned about whether it will rebound or fall.

Currently, BNB is stable at $620. It previously faced resistance at $675, dipped, then rebounded, only to be suppressed again by bears. Now, as it attempts $675 again, it still hasn't broken through, but there is some activity from bulls at the 76.4% retracement level.

Looking upward, BNB faces significant challenges for a rebound. $675 is a strong resistance level, and there is also considerable pressure from the trendline. After breaking through $675, $692 will also act as resistance, and a breakthrough is needed to reach $705.

If it can close above $705, a push towards $720 and a short-term test of $735 is possible, allowing bulls to take control.

Conversely, if it cannot break $675, a downtrend may begin. Initial support is at $640, followed by $625, and the key level is $620.

Falling below $620 may lead to a drop to $612, and continued declines could reach $600.

On the technical indicators, the hourly MACD is losing momentum in the bearish zone, and the hourly RSI is slightly above 50, indicating a neutral to bullish bias.

Currently, the main support levels are $640 and $620, while the main resistance levels are $675 and $692. Investors should pay close attention.

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