BNB has again demonstrated its resilience and strength by breaking through the crucial resistance level of $ 605. This milestone, achieved after weeks of tests and consolidation, has aroused renewed interest among traders and investors. After the breakout, BNB introduced a phase of price stabilization, held comfortably above $ 605 and transforming into a robust support zone.
This consolidation phase is a classic sign of a healthy market, because it can actively catch your breath after a considerable upward move. It also suggests that the outbreak was supported by real buying pressure instead of speculation in the short term. With the $ 605 level that now acts as a springboard, the stage is set for BNB to focus higher price levels in the coming days or weeks.
BNB Price promotion: Stability above $ 605 Signals Strongs
BNB’s ability to keep above the resistance level of $ 605 after breaking the growing bullish momentum. The stability indicates that buyers defend the breakout level and strengthen its meaning as a new support zone. Persistent trade above this level can clear the road for further profit for goals near $ 630 and $ 650.
Technical indicators reinforce the strength of BNB’s outbreak, indicating that Bullish Momentum remains intact. The MACD remains trend in a positive area, where the MACD line remains above the signal line. This positioning suggests that the purchasing pressure remains dominant and the possibility of further profit remains strong. Moreover, the histogram staves are expanding, which reflects an increasing bullish impulse moment.
In addition, the 100-day simple advancing average (SMA) acts as dynamic support, with BNB trade above it, which implies that the wider trend bullish remains and that all dips can offer purchasing opportunities to this level.
If BNB maintains his momentum, it can focus on $ 680, which strengthens his bullish prospects. An outbreak above the level can attract more buyers, which increases the chances for a persistent rally. Currently, the $ 680 serves as a key resistance, and cleaning up with a strong volume is likely to cause a move to $ 724 in the medium term.
Support zones to look at in the case of a pullback
If BNB experiences a pullback, the level of $ 605 is the first important support to look at, because it has been reversed to support. Holding this level can strengthen the bullish momentum and indicate that buyers defend the outbreak.
However, if the sales pressure increases and $ 605 does not hold, the demand zone of $ 531 will come into play, which has traditionally offered strong support. A rebound of this level would indicate the power of the buyer, but a break below will expose BNB to more disadvantage for another bullish attempt. An extensive correction could put $ 500 into focus, which matches the 100-day SMA and earlier served as an important pivot point for price rebounds.
