BNB Price Gains Momentum Aiming for $750 Resistance
BNB Price Update
- BNB price is rising from the $600 support level.
- The price has moved above the $650 resistance zone.
- Current trading is above $665 and the 100-hourly simple moving average.
- A bullish trend line is forming with support at $660 on the hourly chart.
Price Movement
BNB started increasing after establishing a base above $600, surpassing $620 and $650. The price peaked at $732 before undergoing a correction below $700, hitting the 23.6% Fibonacci retracement level.
If BNB continues to rise, it may encounter resistance around $700, with further resistance at $720. A break above $720 could lead to testing $732 and potentially reaching $750.
Potential gains might push towards $800.
Potential Downside
If BNB does not exceed $700, a decline may occur. Initial support is at $665, followed by $650. Major support stands at $635; a drop below this level could bring prices down to $620 or lower towards $600.
Technical Indicators
- Hourly MACD indicates bullish momentum.
- RSI is above 50.
- Major support levels are $665 and $650.
- Major resistance levels are $700 and $732.