NewsBTC 2024-05-10 08:21:58

BNB Price Faces Crucial Test: Will $600 Withstand the Pressure?

BNB price is attempting a fresh increase from the $540 zone. The price must settle above the $600 resistance to gain bullish momentum. BNB price started a fresh increase after it cleared the $565 resistance zone. The price is now trading above $580 and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support at $592 on the 4-hour chart of the BNB/USD pair (data source from Binance). The pair could gain bullish momentum if it clears the $602-$610 resistance zone. BNB Price Holds Support After forming a base above the $535 level, BNB price started a fresh increase. There was a steady increase above the $565 and $575 resistance levels, like Ethereum and Bitcoin. The bulls pushed the price above the $580 pivot level and the 61.8% Fib retracement level of the downward move from the $618 swing high to the $5382 low. It is now trading above $590 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support at $592 on the 4-hour chart of the BNB/USD pair. The pair seems to be consolidating near the 76.4% Fib retracement level of the downward move from the $618 swing high to the $5382 low. Immediate resistance is near the $602 level. The next resistance sits near the $618 level. A clear move above the $618 zone could send the price further higher. Source: BNBUSD on TradingView.com In the stated case, BNB price could test $635. A close above the $635 resistance might set the pace for a larger increase toward the $650 resistance. Any more gains might call for a test of the $680 level in the coming days. Are Dips Supported? If BNB fails to clear the $602 resistance, it could start a downside correction. Initial support on the downside is near the $592 level and the trend line. The next major support is near the $578 level. The main support sits at $555. If there is a downside break below the $555 support, the price could drop toward the $530 support. Any more losses could initiate a larger decline toward the $520 level. Technical Indicators 4-Hours MACD – The MACD for BNB/USD is gaining pace in the bullish zone. 4-Hours RSI (Relative Strength Index) – The RSI for BNB/USD is currently above the 50 level. Major Support Levels – $592, $578, and $555. Major Resistance Levels – $602, $618, and $650.

Наиболее читаемые новости

BoE’s Deputy Governor Signals Potential Rate...
2024-05-20
Navigating the Upcoming Crypto Earnings Calen...
2024-05-20
Kraken Has No Plans To Delist Tether’s USDT F...
2024-05-20
Institutions Pour $932,000,000 Into Crypto Pr...
2024-05-20
UK Judge: Craig Wright lied “extensively and...
2024-05-20
Bitcoin ETFs Are Back With Nearly $1 Billion...
2024-05-20
Ripple’s CTO David Schwartz Sheds Light on XR...
2024-05-20
Ethereum Shows Upward Trend After Breaking We...
2024-05-20

Связанные новости

Прочтите Отказ от ответственности : Весь контент, представленный на нашем сайте, гиперссылки, связанные приложения, форумы, блоги, учетные записи социальных сетей и другие платформы («Сайт») предназначен только для вашей общей информации, приобретенной у сторонних источников. Мы не предоставляем никаких гарантий в отношении нашего контента, включая, но не ограничиваясь, точность и обновление. Никакая часть содержания, которое мы предоставляем, представляет собой финансовый совет, юридическую консультацию или любую другую форму совета, предназначенную для вашей конкретной опоры для любых целей. Любое использование или доверие к нашему контенту осуществляется исключительно на свой страх и риск. Вы должны провести собственное исследование, просмотреть, проанализировать и проверить наш контент, прежде чем полагаться на них. Торговля - очень рискованная деятельность, которая может привести к серьезным потерям, поэтому проконсультируйтесь с вашим финансовым консультантом, прежде чем принимать какие-либо решения. Никакое содержание на нашем Сайте не предназначено для запроса или предложения