BNB -Price corrects the profits of the $ 708 zone. The price is now confronted with obstacles in the vicinity of $ 692 and can again fall to the support of $ 675.
- BNB price tries to recover from the $ 675 support zone.
- The price is now traded under $ 690 and the 100-hour simple advancing average.
- There is an important bearish trend line that forms with resistance at $ 692 on the hourly table of the BNB/USD pair (data source from Binance).
- The couple must remain above the $ 680 level to start a new increase in the short term.
BNB price is confronted with obstacles
After a steady increase, the BNB price could not delete the $ 710 zone. There was a neighboring correction below the level of $ 690 and $ 680, in contrast to Ethereum and Bitcoin.
The price even fell below $ 678 and tested $ 675. A low point was formed at $ 674 and the price is now trying to recover. There was a movement above $ 680. The price climbed above the 50% FIB retracement level of the downward movement of the $ 707 Swing high to $ 674 low.
De Beren, however, are active in the neighborhood of $ 692. There is also an important Bearish trend line that forms with resistance at $ 692 on the hourly table of the BNB/USD pair. The price is now traded under $ 690 and the 100-hour simple advancing average.
At the top the price can experience the resistance near the $ 692 level. The next resistance is near the $ 695 level or the 61.8% FIB retracement level of the downward movement of the $ 707 Swing High to the $ 674 Low.
A clear movement above the $ 695 zone can send the price higher. In the case mentioned, BNB price could test $ 708. An end above the $ 708 resistance can set the pace for a larger movement in the direction of $ 720 resistance. More profits can ask for a test of the level of $ 732 in the short term.
Another decline?
If BNB did not know the $ 692 resistance, this can start a new decline. The first support on the disadvantage is near the level of $ 682. The next major support is near the $ 680 level.
The most important support is at $ 674. If there is a disadvantage below the support of $ 674, the price can fall to the $ 665 support. More losses can set a greater decline to the $ 650 level.
Technical indicators
MACD per hour – The MACD for BNB/USD loses pace in the bullish zone.
Picly RSI (relative strength – index) – The RSI for BNB/USD is currently below the level of 50.
Important support levels – $ 685 and $ 680.
Important resistance levels – $ 692 and $ 708.