{"id":30501,"date":"2024-12-23T05:08:18","date_gmt":"2024-12-23T05:08:18","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=30501"},"modified":"2024-12-23T05:08:18","modified_gmt":"2024-12-23T05:08:18","slug":"bnb-steadies-above-support-will-bullish-momentum-return","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=30501","title":{"rendered":"BNB Steadies Above Support: Will Bullish Momentum Return?"},"content":{"rendered":"

BNB price is consolidating above the $620 support zone. The price is consolidating and might aim for a fresh increase above the $675 resistance.<\/em><\/p>\n

BNB price is struggling to settle above the $700 pivot zone.
\nThe price is now trading below $680 and the 100-hourly simple moving average.
\nThere is a key bearish trend line forming with resistance at $675 on the hourly chart of the BNB\/USD pair (data source from Binance).
\nThe pair must stay above the $640 level to start another increase in the near term.<\/p>\n

BNB Price Holds Support<\/h2>\n

After a downside correction, BNB price found support at $620. It is now recovering losses like Ethereum<\/a> and Bitcoin<\/a>. There was a move above the $675 level before the bears appeared at $695.<\/p>\n

There was a move below the $680 and $675 levels. The price declined below the 50% Fib retracement level of the recovery wave from the $619 swing low to the $693 high. There is also a key bearish trend line forming with resistance at $675 on the hourly chart of the BNB\/USD pair.<\/p>\n

The price is now trading below $675 and the 100-hourly simple moving average. However, the bulls are now active near the 76.4% Fib retracement level of the recovery wave from the $619 swing low to the $693 high.<\/p>\n

If there is a fresh increase, the price could face resistance near the $675 level and the trend line. The next resistance sits near the $692 level. A clear move above the $692 zone could send the price higher. In the stated case, BNB price could test $705.<\/p>\n

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

A close above the $705 resistance might set the pace for a larger move toward the $720 resistance. Any more gains might call for a test of the $735 level in the near term.<\/p>\n

Another Dip?<\/h2>\n

If BNB fails to clear the $675 resistance, it could start another decline. Initial support on the downside is near the $640 level. The next major support is near the $625 level.<\/p>\n

The main support sits at $620. If there is a downside break below the $620 support, the price could drop toward the $612 support. Any more losses could initiate a larger decline toward the $600 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 above the 50 level.<\/p>\n

Major Support Levels \u2013 $640 and $620.<\/p>\n

Major Resistance Levels \u2013 $675 and $692.<\/p>","protected":false},"excerpt":{"rendered":"

BNB price is consolidating above the $620 support zone. The price is consolidating and might aim for a fresh increase above the $675 resistance. BNB price is struggling to settle above the $700 pivot zone. The price is now trading below $680 and the 100-hourly simple moving average. There is a key bearish trend line […]<\/p>\n","protected":false},"author":0,"featured_media":30502,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-30501","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\/30501"}],"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=30501"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/30501\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/30502"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}