BNB Price Recovery in Limbo: Potential Cap Looms Amid Market Uncertainties

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	463,094,755,466	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

463,094,755,466

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	6.39	0.17%	3,847.15	3,846.94	3,847.15

Price Change

Price Change %

Current Price

Bid Price

Offer

6.39

0.17%

3,847.15

3,846.94

3,847.15

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,884.24	3,831.10	3,841.94	3,840.28	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,884.24

3,831.10

3,841.94

3,840.28

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	08:07:47	0.200000	3,846.31	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

08:07:47

0.200000

3,846.31

USD

Price x Volume	Volume	Base Symbol	Related Pairs
96,002,283.90	24,911.49	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

96,002,283.90

24,911.49

BNB Price Recovery in Limbo: Potential Cap Looms Amid Market Uncertainties

15/05/2024 7:13am

NEWSBTC

BNB price is showing bearish signs below the $600 level. The price must settle above the $575 and $585 resistance levels to gain bullish momentum. BNB price started a fresh decline after it failed to clear the $600 resistance zone. The price is now trading below $585 and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $575 on the hourly chart of the BNB/USD pair (data source from Binance). The pair could gain bullish momentum if it clears the $585 resistance zone. BNB Price Dips Again After a decent increase, BNB price struggled near the $600 resistance. As a result, there was a bearish reaction below the $585 support, like Ethereum and Bitcoin. The price dipped below the $575 support and the 100 simple moving average (4 hours). It traded as low as $561 and is currently consolidating losses. There was a minor upward move above the $565 level. The price tested the 23.6% Fib retracement level of the downward move from the $600 swing high to the $561 low. It is now trading below $585 and the 100 simple moving average (4 hours). Immediate resistance is near the $575 level. There is also a key bearish trend line forming with resistance near $575 on the hourly chart of the BNB/USD pair. The next resistance sits near the $585 level or the 61.8% Fib retracement level of the downward move from the $600 swing high to the $561 low. A clear move above the $585 zone could send the price higher. In the stated case, BNB price could test $600. A close above the $600 resistance might set the pace for a larger increase toward the $650 resistance. Any more gains might call for a test of the $680 level in the coming days. More Losses? If BNB fails to clear the $575 resistance, it could continue to move down. Initial support on the downside is near the $560 level. The next major support is near the $550 level. The main support sits at $532. If there is a downside break below the $532 support, the price could drop toward the $510 support. Any more losses could initiate a larger decline toward the $500 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 below the 50 level. Major Support Levels – $565, $550, and $532. Major Resistance Levels – $575, $585, and $600.

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