Gold vs US Dollar

Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

Get Started

BTCUSD Bitcoin

55,115.95

1,130.98 (2.09%)

11:15:00 - Realtime Data

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,084,318,035,189	SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	1,130.98	2.09%	55,115.95	55,115.95	55,115.96

High Price	Low Price	Open Price	Prev. Close	52 Week Range
56,302.55	54,111.20	54,169.74	53,992.83	24,900.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	11:15:00	0.029330	55,115.95	USD

Price x Volume	Volume	Base Symbol	Related Pairs
550,163,166.30	9,896.05	BTC	BTCEUR	BTCGBP	ETHBTC

BNB Price Recovery Faces Setbacks: What Risks Lie Ahead?

06/08/2024 5:58am

NEWSBTC

BNB price is recovering higher from the $400 support zone. The price is now facing hurdles at $490 and might remain at risk of another decline. BNB price started a recovery wave from the $400 support zone. The price is now trading below $500 and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $490 on the hourly chart of the BNB/USD pair (data source from Binance). The pair could start another decline if it fails to clear the $490-$500 resistance zone. BNB Price Faces Key Hurdles In the past few days, BNB price gained bearish momentum below $500 like Ethereum and Bitcoin. The price declined below the $450 and $435 support levels before the bulls emerged. A low was formed at $403 and recently started a recovery wave. The price climbed above the $435 and $440 resistance levels. There was a move above the 23.6% Fib retracement level of the downward move from the $576 swing high to the $403 low. It even cleared the $465 resistance. The price is now trading below $500 and the 100-hourly simple moving average. It is now consolidating near the 50% Fib retracement level of the downward move from the $576 swing high to the $403 low. On the upside, the price could face resistance near the $490 level. There is also a key bearish trend line forming with resistance at $490 on the hourly chart of the BNB/USD pair. The next resistance sits near the $500 level. A clear move above the $500 zone could send the price higher. In the stated case, BNB price could test $515. A close above the $515 resistance might set the pace for a larger increase toward the $540 resistance. Any more gains might call for a test of the $550 level in the near term. Another Decline? If BNB fails to clear the $500 resistance, it could start another decline. Initial support on the downside is near the $465 level. The next major support is near the $450 level. The main support sits at $435. If there is a downside break below the $435 support, the price could drop toward the $420 support. Any more losses could initiate a larger decline toward the $400 level. Technical Indicators Hourly MACD – The MACD for BNB/USD is losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BNB/USD is currently above the 50 level. Major Support Levels – $465 and $450. Major Resistance Levels – $490 and $500.

1 Year Bitcoin Chart

1 Year Bitcoin Chart

1 Month Bitcoin Chart

1 Month Bitcoin Chart

Delayed Upgrade Clock

Support: +44 (0) 203 8794 460 | support@advfn.com

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions