BNB Price Slips as Peers Climb: Can It Regain Ground? - ADVFN

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Binance Coin (Cryptocurrency:BNBUSD) News

Name	Symbol	Market	Market Cap ($)	Algorithm
Binance Coin	BNBUSD	Crypto	112,537,922,062	Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-1.02	-0.14%	712.27	712.27	712.47

High Price	Low Price	Open Price	Prev. Close	52 Week Range
713.26	712.27	713.11	713.29	287.49 - 832.84

Exchange	Last Trade	Size	Trade Price	Currency
BINA	01:04:26	0.127000	712.27	USD

Price x Volume	Volume	Base Symbol	Related Pairs
114,390.96	160.62	BNB	BNBEUR	BNBGBP	BNBBTC

BNB Price Slips as Peers Climb: Can It Regain Ground?

31/10/2024 5:48am

NEWSBTC

BNB price corrected gains from the $612 level. The price is now showing a few bearish signs while Bitcoin and Ethereum eye additional gains. BNB price started a downside correction from the $612 resistance zone. The price is now trading below $595 and the 100-hourly simple moving average. There is a connecting bearish trend line forming with resistance at $595 on the hourly chart of the BNB/USD pair (data source from Binance). The pair must stay above the $588 level to start another increase in the near term. BNB Price Dips Again After struggling above $612, BNB price saw a downside correction. The price dipped below the $605 and $600 support levels unlike Ethereum and Bitcoin. There was a move below the $598 and $595 levels. The price even dipped below the 23.6% Fib retracement level of the upward move from the $565 swing low to the $612 high. There is also a connecting bearish trend line forming with resistance at $595 on the hourly chart of the BNB/USD pair. The price is now trading below $595 and the 100-hourly simple moving average. If there is a fresh increase, the price could face resistance near the $595 level or the trend line. The next resistance sits near the $600 level. A clear move above the $600 zone could send the price higher. In the stated case, BNB price could test $612. A close above the $612 resistance might set the pace for a larger move toward the $620 resistance. Any more gains might call for a test of the $632 level in the near term. More Losses? If BNB fails to clear the $595 resistance, it could start another decline. Initial support on the downside is near the $590 level. The next major support is near the $588 level or the 50% Fib retracement level of the upward move from the $565 swing low to the $612 high. The main support sits at $576. If there is a downside break below the $576 support, the price could drop toward the $565 support. Any more losses could initiate a larger decline toward the $550 level. Technical Indicators Hourly MACD – The MACD for BNB/USD is gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BNB/USD is currently below the 50 level. Major Support Levels – $588 and $576. Major Resistance Levels – $595 and $600.

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1 Year Binance Coin Chart

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1 Month Binance Coin Chart

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