{"id":16836,"date":"2024-10-31T05:48:39","date_gmt":"2024-10-31T05:48:39","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=16836"},"modified":"2024-10-31T05:48:39","modified_gmt":"2024-10-31T05:48:39","slug":"bnb-price-slips-as-peers-climb-can-it-regain-ground","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=16836","title":{"rendered":"BNB Price Slips as Peers Climb: Can It Regain Ground?"},"content":{"rendered":"

BNB price corrected gains from the $612 level. The price is now showing a few bearish signs while Bitcoin and Ethereum eye additional gains.<\/em><\/p>\n

BNB price started a downside correction from the $612 resistance zone.
\nThe price is now trading below $595 and the 100-hourly simple moving average.
\nThere is a connecting bearish trend line forming with resistance at $595 on the hourly chart of the BNB\/USD pair (data source from Binance).
\nThe pair must stay above the $588 level to start another increase in the near term.<\/p>\n

BNB Price Dips Again<\/h2>\n

After struggling above $612, BNB price saw a downside correction. The price dipped below the $605 and $600 support levels unlike Ethereum<\/a> and Bitcoin<\/a>.<\/p>\n

There was a move below the $598 and $595 levels. The price even dipped below the 23.6% Fib retracement level of the upward move from the $565 swing low to the $612 high. There is also a connecting bearish trend line forming with resistance at $595 on the hourly chart of the BNB\/USD pair.<\/p>\n

The price is now trading below $595 and the 100-hourly simple moving average. If there is a fresh increase, the price could face resistance near the $595 level or the trend line.<\/p>\n

<\/a><\/p>\n

The next resistance sits near the $600 level. A clear move above the $600 zone could send the price higher. In the stated case, BNB price could test $612. A close above the $612 resistance might set the pace for a larger move toward the $620 resistance. Any more gains might call for a test of the $632 level in the near term.<\/p>\n

More Losses?<\/h2>\n

If BNB fails to clear the $595 resistance, it could start another decline. Initial support on the downside is near the $590 level. The next major support is near the $588 level or the 50% Fib retracement level of the upward move from the $565 swing low to the $612 high.<\/p>\n

The main support sits at $576. If there is a downside break below the $576 support, the price could drop toward the $565 support. Any more losses could initiate a larger decline toward the $550 level.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 The MACD for BNB\/USD is gaining pace in the bearish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BNB\/USD is currently below the 50 level.<\/p>\n

Major Support Levels \u2013 $588 and $576.<\/p>\n

Major Resistance Levels \u2013 $595 and $600.<\/p>","protected":false},"excerpt":{"rendered":"

BNB price corrected gains from the $612 level. The price is now showing a few bearish signs while Bitcoin and Ethereum eye additional gains. BNB price started a downside correction from the $612 resistance zone. The price is now trading below $595 and the 100-hourly simple moving average. There is a connecting bearish trend line […]<\/p>\n","protected":false},"author":0,"featured_media":16837,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-16836","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/16836"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16836"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/16836\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/16837"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}