#BNB Price Regains Strength as Bulls Target $700

The BNB price is trying to rise from $575. The bulls want to break above $620 after a 5% gain.

After finding support at $575, the price of $BNB rose again.

The price surpasses $600 and 100 SMA.

On the BNB/USD 4-hour chart, an uptrend line forms with support at $587.

Bullish momentum may occur if the pair breaks the $620 barrier.

BNB price may rise by 15%

BNB price found support at $575 after a drop below $600. The price rose from $572.8, unlike Ethereum and Bitcoin.

Above the barrier levels of $595 and $600. The bulls surpassed the $605 pivot. It is up over 5% and is showing several strong indicators above the 23.6% Fibonacci retracement line of the last rise from the low of $572.8 to the high of $618.0.

Above $600 and 100 SMA (4 hours). On the BNB/USD 4-hour chart, an uptrend line forms with support at $587.

Resistance around $618 is immediate. Near $620 is the next resistance. A decisive break above $620 could boost prices. In this case, BNB can reach $632. A close above $632 could lead to a stronger move towards $650. Any further rise could challenge $700 in the coming days.

Another fall?

BNB may fall if it fails to break the $620 resistance. Initial downside support is at $600.

The next key support is at $590 and the trend line or 61.8% Fibonacci retracement level of the current advance from the low of $572.8 to the high of $618.0. Primary funding is $575. If the price falls below $575, it could fall to $562. Further losses could lead to a drop to $550.