$516 is the key support level.
$600 is a key resistance level; 692 is a key support level.
BNB gained more than 10% today and broke through the $600 level before being pushed back by the bears. The momentum for BNB is still very strong, and a test of the all-time high at $692 is becoming more likely by the day.
This surge is the result of a significant break from the blue pennant, which was successfully tested as support. BNB is expected to be a top performer in the current bull market, as it has a clear path higher.
BNB Price Technical Indicators
Trading Volume: The price increase on this rally has been sustained by high volume, and there are no signs of weakness yet. BNB may be able to continue higher before experiencing a significant pullback.
RSI: On the daily timeframe, the RSI just surpassed 70 points. There is still plenty of space up there. When the RSI reaches 80 points, it is time to be cautious because this is an area where the price has previously reversed.
MACD: The MACD moving averages and histogram show strong bullish momentum. The daily timeframe indicates a strong bullish trend. The MACD on the 4-hour timeframe is also bullish, indicating that BNB has significant strength in this rally.
The current sentiment is bullish. BNB is the third-largest cryptocurrency by market capitalization, trailing only Ethereum, and is supported by the world’s largest cryptocurrency exchange. A bullish market will only benefit BNB, as evidenced by its price.
BNB Price Prediction in the Short Term
The resistance at $600 may delay the upward push for a while, but this appears unlikely to last long. The momentum is clearly on the bulls’ side, and a test of the all-time high could happen at any time because it’s only about 15% away.