$BNB

BNB Holds the Line—Bullish Momentum Still Intact!

Bulls are anticipating that the upswing will resume, and the price of BNB continues to hover close to record highs. After reaching a point of stability around 76, the Relative Strength Index (RSI), which is now overbought, is exhibiting indications that it will continue to prolong the rise.

A rebound toward the maximum 100 level would indicate that positive momentum is growing, but it would also signify that market conditions are overheated, which is likely to end in a price downturn.

When the blue MACD line crossed above the red signal line on June 28, the Moving Average Convergence Divergence (MACD) indicator displayed a buy signal. This signal continues to be supported by the indicator.

Despite this, traders should moderate their optimistic expectations since the Relative Strength Index (RSI) indicates that market conditions are hot. In the event that the blue MACD line crosses below the red signal line and the RSI continues to prolong the slide below 70, the path of least resistance may continue to go lower. A longer-than-expected trend reversal into support around $689, which is given by the 50-day Exponential Moving Average (EMA), might be the outcome of this.