{"id":23506,"date":"2024-11-26T05:08:46","date_gmt":"2024-11-26T05:08:46","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=23506"},"modified":"2024-11-26T05:08:46","modified_gmt":"2024-11-26T05:08:46","slug":"bnb-price-sets-up-for-a-comeback-bulls-eye-higher-levels","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=23506","title":{"rendered":"BNB Price Sets Up for a Comeback: Bulls Eye Higher Levels"},"content":{"rendered":"

BNB price is consolidating near the $640 zone. The price is holding the $625 support and might aim for a move above the $660 resistance.<\/em><\/p>\n

BNB price started a downside correction from the $685 resistance zone.
\nThe price is now trading below $650 and the 100-hourly simple moving average.
\nThere is a key declining channel forming with resistance at $660 on the hourly chart of the BNB\/USD pair (data source from Binance).
\nThe pair must stay above the $625 level to start another increase in the near term.<\/p>\n

BNB Price Holds Support<\/h2>\n

After a close above the $640 level, BNB price extended its increase. However, upsides were limited above $685 and the price remained capped, unlike Ethereum<\/a> and Bitcoin<\/a>.<\/p>\n

There was a move below the $666 and $650 levels. However, the price is now holding gains above the $625 level. A low was formed at $626 and the price is now consolidating above the 23.6% Fib retracement level of the downward move from the $676 swing high to the $626 low.<\/p>\n

The price is now trading below $650 and the 100-hourly simple moving average. If there is a fresh increase, the price could face resistance near the $650 level. It is close to the 50% Fib retracement level of the downward move from the $676 swing high to the $626 low.<\/p>\n

The next resistance sits near the $660 level. There is also a key declining channel forming with resistance at $660 on the hourly chart of the BNB\/USD pair. A clear move above the $660 zone could send the price higher.<\/p>\n

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

In the stated case, BNB price could test $676. A close above the $676 resistance might set the pace for a larger move toward the $685 resistance. Any more gains might call for a test of the $700 level in the near term.<\/p>\n

More Losses?<\/h2>\n

If BNB fails to clear the $660 resistance, it could start another decline. Initial support on the downside is near the $632 level. The next major support is near the $625 level.<\/p>\n

The main support sits at $615. If there is a downside break below the $615 support, the price could drop toward the $600 support. Any more losses could initiate a larger decline toward the $588 level.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 The MACD for BNB\/USD is losing 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 $632 and $625.<\/p>\n

Major Resistance Levels \u2013 $650 and $660.<\/p>","protected":false},"excerpt":{"rendered":"

BNB price is consolidating near the $640 zone. The price is holding the $625 support and might aim for a move above the $660 resistance. BNB price started a downside correction from the $685 resistance zone. The price is now trading below $650 and the 100-hourly simple moving average. There is a key declining channel […]<\/p>\n","protected":false},"author":0,"featured_media":23507,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-23506","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\/23506"}],"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=23506"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/23506\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/23507"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}