🚀 BNB Builds Momentum — Is a Breakout on the Horizon?
BNB price is rising over $632. The price is showing indications of improvement and may rise further.
BNB price is trying to rebound from $600.
The price is below $632 and the 100-hour SMA.
BNB/USD broke above a negative trend line with resistance at $625 on the hourly chart.
To rise soon, the pair needs hold above $632.
BNB Price Wants More Gains
BNB price rose after building a base over $600. Ethereum and Bitcoin moved over $620 and $625 barrier levels.
A good rise over the 50% Fib retracement level of the latest collapse from $651 swing high to $602 low occurred. BNB/USD broke above a negative trend line with resistance at $625 on the hourly chart.
The price is below $632 and the 100-hour SMA. It is also stabilizing at the 76.4% Fib retracement of the current slide from $651 swing high to $602 low.
Price may find resistance at $644 on the upside. Near $650 is the next resistance. A decisive break over $650 might boost prices. In this instance, BNB may reach $665. A closing above $665 barrier might lead to a rise above $680. If gains continue, $700 may be tested.
Another Fall?
BNB may decrease if it fails to break $644 barrier. Initial downside support is $635. Near $632 is the next important support.
The major funding is $625. If the price breaks $625, it might fall to $612. More losses might cause a drop to $600.
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: $632, $625.
Key Resistance Levels: $644, $650.
