BNB Surges Over 10% Approaching Key $724 Resistance Level
BNB has increased by over 10%, approaching the critical resistance level of $724. This bullish momentum reflects strong buying pressure and renewed investor confidence.
- Current price is near the historical resistance zone at $724, where previous sell-offs occurred.
- Trading above the 100-day Simple Moving Average indicates ongoing bullish momentum.
- Sustaining above this average acts as support, preventing deeper pullbacks.
- The MACD shows overbought conditions, suggesting a potential reversal or consolidation phase may be imminent.
- A bearish crossover in the MACD could confirm a weakening trend, leading to price retracement toward support levels.
Market outlook is cautiously bullish. If BNB surpasses and holds above $724, it could rise toward $795. Conversely, rejection at this level may lead to a short-term pullback with key support at $680 and $605.
