BNB Price Rising Above $620 with Key Resistance at $630

BNB price is recovering from the $600 support zone, showing potential for an increase towards the $640 resistance.

BNB is trading above the $620 resistance.
Current trading below $630 and the 100-hourly simple moving average.
A bearish trend line with resistance at $627 is forming on the hourly chart.
The price needs to maintain above $615 for a possible increase.

BNB Price Outlook

BNB has begun rising after establishing a base above $600, surpassing resistance levels of $618 and $610. It also moved above the 23.6% Fib retracement level from the $645 high to the $615 low.

Resistance near $628 and a bearish trend line at $627 may impede further gains. A move beyond $630 could lead to testing $638, with potential for an advance towards $650 and $665.

Potential Decline

If BNB does not break through the $630 resistance, it may decline. Initial support appears at $622, followed by significant support at $615 and $600. A drop below $600 could see prices fall to $585 and further towards $565.

Technical indicators show:

MACD gaining strength in the bullish zone
RSI above 50
Major support levels at $622 and $615
Major resistance levels at $628 and $630