Bounce Ready, BNB Price Coils at Support

BNB is consolidating over $595. The price is stabilizing at $600 and may rise further.

BNB price is trying to rebound from $600.

The price is at $602 and the 100-hour SMA.

The hourly BNB/USD chart shows a significant rising channel with support at $600.

To rise soon, the pair needs remain above $598.

BNB Price Supports Key

BNB price rose after building a base above $592. Ethereum and Bitcoin moved over $595 and $600 barrier.

Bulls even broke $605. Before a small adjustment, $611 was a high. Price retested $600 support. The price created a bottom at $598 and rose beyond the 23.6% Fib retracement level of the latest slide from the $611 swing high.

The price is at $602 and the 100-hour SMA. The hourly BNB/USD chart shows a significant rising channel with support at $600.

Resistance between $606 and the 61.8% Fib retracement level of the current slide from the $611 swing high to the $598 low may limit gains. Near $610 is the next resistance. A decisive break over $610 might boost prices.

In this situation, BNB may reach $620. A closing above $620 barrier might lead to a surge above $635. More gains may test $650 soon.

Another Fall?
BNB may fall again if it fails to break $610 resistance. Initial downside support is at $600. Near $598 is the next important support.

The major funding is $592. If the price breaks below $592, it might fall to $585. More losses might cause a drop to $580.

Tech Indicators

Hourly MACD - BNB/USD MACD is rising in the positive zone.

Hourly RSI (Relative Strength Index): BNB/USD is over 50.

Major Support Levels: $600, $598.

Important Resistance Levels: $606 and $610.

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