BNB Price Eyes Another Leap: Is a Fresh Surge Incoming? - ADVFN

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Binance Coin (Cryptocurrency:BNBUSD) News

Name	Symbol	Market	Market Cap ($)	Algorithm
Binance Coin	BNBUSD	Crypto	112,755,238,262	Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.660381	0.09%	712.76	712.86	713.26

High Price	Low Price	Open Price	Prev. Close	52 Week Range
725.17	709.79	712.10	712.10	232.31 - 832.84

Exchange	Last Trade	Size	Trade Price	Currency
BINA	14:07:57	0.146000	712.76	USD

Price x Volume	Volume	Base Symbol	Related Pairs
19,933,801.25	27,762.07	BNB	BNBEUR	BNBGBP	BNBBTC

BNB Price Eyes Another Leap: Is a Fresh Surge Incoming?

06/12/2024 5:08am

NEWSBTC

BNB price is consolidating near the $725 zone. The price is showing positive signs and might aim for a move above the $740 resistance. BNB price started a downside correction from the $800 resistance zone. The price is now trading above $700 and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $725 on the hourly chart of the BNB/USD pair (data source from Binance). The pair must stay above the $715 level to start another increase in the near term. BNB Price Holds Support After a close above the $700 level, BNB price extended its increase, like Ethereum and Bitcoin. The bulls were able to pump the price above the $720 and $750 resistance levels. Finally, the price tested the $800 zone. A high was formed at $794 before there was a downside correction. There was a move below the $750 and $740 levels. However, the price is now holding gains above the $700 level. A low was formed at $688 and the price is now consolidating above the 23.6% Fib retracement level of the downward move from the $795 swing high to the $688 low. The price is now trading above $700 and the 100-hourly simple moving average. If there is a fresh increase, the price could face resistance near the $725level. There is also a key bearish trend line forming with resistance at $725 on the hourly chart of the BNB/USD pair. The next resistance sits near the $740 level. It is near the 50% Fib retracement level of the downward move from the $795 swing high to the $688 low. A clear move above the $740 zone could send the price higher. In the stated case, BNB price could test $750. A close above the $750 resistance might set the pace for a larger move toward the $785 resistance. Any more gains might call for a test of the $800 level in the near term. Another Dip? If BNB fails to clear the $725 resistance, it could start another decline. Initial support on the downside is near the $715 level. The next major support is near the $700 level. The main support sits at $685. If there is a downside break below the $685 support, the price could drop toward the $665 support. Any more losses could initiate a larger decline toward the $650 level. Technical Indicators Hourly MACD – The MACD for BNB/USD is losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BNB/USD is currently above the 50 level. Major Support Levels – $715 and $700. Major Resistance Levels – $740 and $750.

1 Year Binance Coin Chart

1 Year Binance Coin Chart

1 Month Binance Coin Chart

1 Month Binance Coin Chart

Kimberly Parry Organics (CE)

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