BNB Price Consolidates Above $675 Support, Eyes $700 Resistance
BNB Price Analysis
- BNB is consolidating above the $675 support level.
- Struggling to settle above the $700 pivot zone.
- Current trading below $700 and the 100-hourly simple moving average.
- Break above a bearish trend line at $695 confirmed on hourly chart.
- Must hold above $680 for potential short-term increases.
After a correction, BNB found support at $675 and has moved above $685. The price recovers above the 23.6% Fib retracement level from the recent high of $745 to a low of $674. Resistance levels are noted at $700 and $710, with potential testing at $725 if cleared. Major supports identified at $685 and $675; crucial support at $650, risking declines toward $642 and $625 if breached.
Technical Indicators
- MACD losing pace in the bearish zone.
- RSI above 50 level.
