BNB Price Finds Its Footing — Can Bulls Ignite the Next Leg Up?
16 Maggio 2025 - 7:08AM
NEWSBTC
BNB price is consolidating above the $640 support zone. The price
is now showing positive signs and might aim for more gains in the
near term. BNB price is attempting to recover from the $640 support
zone. The price is now trading above $655 and the 100-hourly simple
moving average. There was a break above a connecting bearish trend
line with resistance at $652 on the hourly chart of the BNB/USD
pair (data source from Binance). The pair must stay above the $642
level to start another increase in the near term. BNB Price Eyes
Upside Break After forming a base above the $642 level, BNB price
started a fresh increase. There was a move above the $650 and $655
resistance levels, like Ethereum and Bitcoin. There was a decent
move above the 50% Fib retracement level of the recent decline from
the $671 swing high to the $642 low. Besides, there was a break
above a connecting bearish trend line with resistance at $652 on
the hourly chart of the BNB/USD pair. The price is now trading
above $655 and the 100-hourly simple moving average. On the upside,
the price could face resistance near the $660 level. It is close to
the 61.8% Fib retracement level of the recent decline from the $671
swing high to the $642 low. The next resistance sits near the $670
level. A clear move above the $670 zone could send the price
higher. In the stated case, BNB price could test $678. A close
above the $678 resistance might set the pace for a larger move
toward the $685 resistance. Any more gains might call for a test of
the $700 level in the near term. Another Decline? If BNB fails to
clear the $660 resistance, it could start another decline. Initial
support on the downside is near the $652 level. The next major
support is near the $650 level. The main support sits at $642. If
there is a downside break below the $642 support, the price could
drop toward the $630 support. Any more losses could initiate a
larger decline toward the $620 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 above the 50 level. Major Support Levels – $650 and $642.
Major Resistance Levels – $660 and $670.
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