BNB price consolidates above the $ 665 support zone. The price now shows positive drawing and can strive for more profits in the short term.
- BNB price tries to recover from the $ 655 support zone.
- The price is now traded under $ 675 and the 100-hour simple advancing average.
- There was a break above a connecting bearish trend line with resistance at $ 665 on the hourly table of the BNB/USD pair (data source of Binance).
- The couple must remain above the $ 660 level to start a new increase in the short term.
BNB Price Eyes Steady Winins
After forming a base above the level of $ 652, the BNB price started a new increase. There was a movement above the resistance levels of $ 655 and $ 665, such as Ethereum and Bitcoin.
There was a considerable movement above the 23.6% FIB racement level of the recent decrease of the $ 691 Swing high to $ 653 Low. By the way, there was a break over a connecting bearish trend line with resistance at $ 665 on the hourly table of the BNB/USD pair.
The price is now traded under $ 675 and the 100-hour simple advancing average. At the top the price can experience the resistance near the level of $ 672. It is close to the 50% FIB retracement level of the recent decrease of the $ 691 Swing high to $ 653 Low.
The next resistance is near the $ 677 level. A clear movement above the $ 677 zone can send the price higher. In the case mentioned, BNB price could test $ 680. A nearby $ 680 resistance can set the pace for a larger movement in the direction of $ 685 resistance. More profits can ask for a test of the $ 700 level in the short term.
Another decline?
If BNB did not know the $ 675 resistance, this can start a new decline. The first support on the disadvantage is close to the $ 665 level. The next major support is close to the $ 662 level.
The most important support is at $ 655. If there is a disadvantage below the support of $ 655, the price can fall to the support of $ 650. More losses can set a greater decline in the direction of the $ 642 level.
Technical indicators
MACD per hour – The MACD for BNB/USD wins pace in the bullish zone.
Picly RSI (relative strength – index) – The RSI for BNB/USD is currently above the level of 50.
Important support levels – $ 662 and $ 655.
Important resistance levels – $ 672 and $ 680.