BNB Steadies Above Support: Will Bullish Momentum Return? - ADVFN

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Binance Coin (Cryptocurrency:BNBUSD) News

Name	Symbol	Market	Market Cap ($)	Algorithm
Binance Coin	BNBUSD	Crypto	113,901,496,985	Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	29.31	4.24%	719.98	719.98	720.08

High Price	Low Price	Open Price	Prev. Close	52 Week Range
725.18	690.86	691.47	690.67	245.63 - 832.84

Exchange	Last Trade	Size	Trade Price	Currency
BINA	15:56:34	0.500000	719.98	USD

Price x Volume	Volume	Base Symbol	Related Pairs
11,870,294.24	16,780.61	BNB	BNBEUR	BNBGBP	BNBBTC

BNB Steadies Above Support: Will Bullish Momentum Return?

23/12/2024 5:08am

NEWSBTC

BNB price is consolidating above the $620 support zone. The price is consolidating and might aim for a fresh increase above the $675 resistance. BNB price is struggling to settle above the $700 pivot zone. The price is now trading below $680 and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $675 on the hourly chart of the BNB/USD pair (data source from Binance). The pair must stay above the $640 level to start another increase in the near term. BNB Price Holds Support After a downside correction, BNB price found support at $620. It is now recovering losses like Ethereum and Bitcoin. There was a move above the $675 level before the bears appeared at $695. There was a move below the $680 and $675 levels. The price declined below the 50% Fib retracement level of the recovery wave from the $619 swing low to the $693 high. There is also a key bearish trend line forming with resistance at $675 on the hourly chart of the BNB/USD pair. The price is now trading below $675 and the 100-hourly simple moving average. However, the bulls are now active near the 76.4% Fib retracement level of the recovery wave from the $619 swing low to the $693 high. If there is a fresh increase, the price could face resistance near the $675 level and the trend line. The next resistance sits near the $692 level. A clear move above the $692 zone could send the price higher. In the stated case, BNB price could test $705. A close above the $705 resistance might set the pace for a larger move toward the $720 resistance. Any more gains might call for a test of the $735 level in the near term. Another Dip? If BNB fails to clear the $675 resistance, it could start another decline. Initial support on the downside is near the $640 level. The next major support is near the $625 level. The main support sits at $620. If there is a downside break below the $620 support, the price could drop toward the $612 support. Any more losses could initiate a larger decline toward the $600 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 – $640 and $620. Major Resistance Levels – $675 and $692.

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1 Year Binance Coin Chart

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1 Month Binance Coin Chart

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