BNB Price Stalls Below $700: Is a Surge Around The Corner? - ADVFN

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Binance Coin (Cryptocurrency:BNBUSD)
Binance Coin (Cryptocurrency:BNBUSD) News

Name	Symbol	Market	Market Cap ($)	Algorithm
Binance Coin	BNBUSD	Crypto	91,241,073,237	Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-38.33	-6.22%	577.84	575.09	576.21

High Price	Low Price	Open Price	Prev. Close	52 Week Range
619.24	565.44	618.02	616.17	291.40 - 983.97

Exchange	Last Trade	Size	Trade Price	Currency
KUCN	20:28:29	0.139800	574.33	USD

Price x Volume	Volume	Base Symbol	Related Pairs
39,262.14	67.00	BNB	BNBEUR	BNBGBP	BNBBTC

BNB Price Stalls Below $700: Is a Surge Around The Corner?

23/01/2025 5:08am

NEWSBTC

BNB price is consolidating near the $700 support zone. The price is showing a few bearish signs but the bulls might remain active near the $672 support. BNB price is struggling to clear the $720 resistance zone. The price is now trading below $700 and the 100-hourly simple moving average. There was a break below a key bullish trend line with support at $696 on the hourly chart of the BNB/USD pair (data source from Binance). The pair must stay above the $672 level to start another increase in the near term. BNB Price Holds Support After a decent increase, BNB price struggled to settle above the $705 level. It started a pullback from the $703 high, like Ethereum and Bitcoin. There was drop below the $695 support zone. Besides, there was a break below a key bullish trend line with support at $696 on the hourly chart of the BNB/USD pair. The pair seems to be now approaching the 50% Fib retracement level of the upward move from the $664 swing low to the $703 high. The price is now trading below $700 and the 100-hourly simple moving average. If there is a fresh increase, the price could face resistance near the $692 level. The next resistance sits near the $696 level. A clear move above the $696 zone could send the price higher. In the stated case, BNB price could test $700. A close above the $700 resistance might set the pace for a larger move toward the $720 resistance. Any more gains might call for a test of the $732 level in the near term. More Losses? If BNB fails to clear the $696 resistance, it could start another decline. Initial support on the downside is near the $685 level. The next major support is near the $680 level. The main support sits at $672 or the 76.4% Fib retracement level of the upward move from the $664 swing low to the $703 high. If there is a downside break below the $692 support, the price could drop toward the $685 support. Any more losses could initiate a larger decline toward the $675 level. Technical Indicators Hourly MACD – The MACD for BNB/USD is gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BNB/USD is currently below the 50 level. Major Support Levels – $685 and $672. Major Resistance Levels – $696 and $700.

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