🏆 BNB Approaches the Breakout Zone — Can the Bulls Take Control?

BNB is pulling back gains from $825. The price faces hurdles at $815 and may rise soon.

BNB is pulling back gains below $815.

The price is above $800 and the 100-hour SMA.

A crucial contracting triangle with support around $804 is forming on the hourly chart of BNB/USD.

To rise soon, the pair must stay above $792.

BNB Price Supports

The price of BNB failed to break $830 after a steady increase. Ethereum and Bitcoin corrected below $820 and $815.

The price fell below $800 to $792. The price is attempting to rise from $792, its low. It moved above the 50% Fibonacci retracement level from the swing high of $827 to the swing low of $792.

The price is above $810 and the 100-hour SMA. On the hourly chart of BNB/USD, a contracting triangle is forming with support around $804.

The bullish momentum may find resistance at $815 or the 61.8% Fibonacci retracement level of the drop from the swing high of $827 to the swing low of $792. Near $820 is the next resistance. A decisive breakout above $820 could drive prices higher.

In this case, BNB could reach $832. A close above the $832 barrier could lead to a rise above $840. Further gains could test $850 soon.

Another Drop?

BNB could decrease if it fails to break the barrier of $815. The initial negative support is $804. Near $800 is the next major support.

The main support is $792. If the price breaks below $792, it could fall to $780. Further losses could cause a drop to $768.

Technical Indicators

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

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

Main Support Levels: $804, $792.

Key Resistance Levels: $815, $820.