BNB Holds Steady ā Is a Breakout Just Around the Corner? š
BNB is holding firm above the $640 support level and showing signs of momentum. Could a bullish breakout be brewing?
BNB is attempting a bounce from $640.
Price is trading above $655 and the 100-hour SMA.
A key bearish trendline was broken at $652 on the hourly BNB/USD chart.
To sustain gains, BNB needs to stay above $642.
Uptrend in Sight? š
After forming a solid base near $642, BNB began to climb ā much like Ethereum and Bitcoin recently did by surpassing key resistance zones.
The price pushed through the 50% Fibonacci retracement level from the $671 swing high to the $642 low.
A bullish breakout above the trendline resistance at $652 was confirmed.
BNB is now above $655 and the 100-hour SMA, eyeing resistance near $660 ā the 61.8% Fib retracement level.
If bulls clear $670, we could see a rally toward $678, and potentially $685 or even $700 if momentum continues! š
But What If It Drops? ā ļø
Should BNB struggle to break past $660, a short-term pullback is possible.
Initial support lies at $652, followed by a stronger base at $650.
The key level to watch is $642 ā a break below this could push BNB down to $630 or even $620 if bearish pressure increases.
Technical Outlook š
MACD (Hourly): Gaining traction in bullish territory.
