BNB Price Consolidates Above $665 Support, Aims for Gains

BNB is currently consolidating above the $665 support level and shows potential for further gains.

BNB is recovering from the $655 support zone.
The price is trading below $675 and the 100-hourly simple moving average.
A break occurred above a bearish trend line with resistance at $665 on the hourly chart.
The price needs to remain above $660 for potential increases.

BNB Price Outlook

BNB formed a base above $652 and increased past the $655 and $665 resistance levels.

It moved above the 23.6% Fib retracement level from the recent decline, breaking the bearish trend line at $665.

Current resistance is near $672, close to the 50% Fib retracement level. The next resistance is at $677; surpassing this could lead to testing $680 and potentially reaching $700.

Risk of Decline

If BNB does not break the $675 resistance, it may decline. Initial support is at $665, with major support at $655. A drop below $655 could lead to a further decline towards $650 and possibly $642.

Technical indicators show a bullish MACD and an RSI above 50.

Major Support Levels: $662, $655

Major Resistance Levels: $672, $680