{"id":56172,"date":"2025-04-02T05:08:15","date_gmt":"2025-04-02T05:08:15","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=56172"},"modified":"2025-04-02T05:08:15","modified_gmt":"2025-04-02T05:08:15","slug":"bnb-price-faces-more-downside-can-bulls-step-in","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=56172","title":{"rendered":"BNB Price Faces More Downside\u2014Can Bulls Step In?"},"content":{"rendered":"

BNB price is recovering from the $588 support zone. The price is now correcting gains and might struggle to stay above the $600 support.<\/em><\/p>\n

BNB price is attempting to recover above the $600 resistance zone.
\nThe price is now trading below $610 and the 100-hourly simple moving average.
\nThere is a short-term declining channel forming with resistance at $610 on the hourly chart of the BNB\/USD pair (data source from Binance).
\nThe pair must stay above the $600 level to start another increase in the near term.<\/p>\n

BNB Price Faces Resistance<\/h2>\n

After forming a base above the $588 level, BNB price started a fresh increase. There was a move above the $600 and $610 resistance levels. It even recovered above the $615 level before the bears appeared, like Ethereum<\/a> and Bitcoin<\/a>.<\/p>\n

A high was formed at $618 and the price is now correcting gains. There was a move below the $615 level. The price dipped below the 50% Fib retracement level of the upward move from the $587 swing low to the $618 high.<\/p>\n

There is also a short-term declining channel forming with resistance at $610 on the hourly chart of the BNB\/USD pair. The price is now trading below $610 and the 100-hourly simple moving average. On the upside, the price could face resistance near the $610 level.<\/p>\n

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

The next resistance sits near the $612 level. A clear move above the $612 zone could send the price higher. In the stated case, BNB price could test $618. A close above the $620 resistance might set the pace for a larger move toward the $626 resistance. Any more gains might call for a test of the $635 level in the near term.<\/p>\n

Another Decline?<\/h2>\n

If BNB fails to clear the $610 resistance, it could start another decline. Initial support on the downside is near the $600 level. The next major support is near the $598 level and the 61.8% Fib retracement level of the upward move from the $587 swing low to the $618 high.<\/p>\n

The main support sits at $594. If there is a downside break below the $594 support, the price could drop toward the $585 support. Any more losses could initiate a larger decline toward the $565 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 $600 and $598.<\/p>\n

Major Resistance Levels \u2013 $610 and $618.<\/p>","protected":false},"excerpt":{"rendered":"

BNB price is recovering from the $588 support zone. The price is now correcting gains and might struggle to stay above the $600 support. BNB price is attempting to recover above the $600 resistance zone. The price is now trading below $610 and the 100-hourly simple moving average. There is a short-term declining channel forming […]<\/p>\n","protected":false},"author":0,"featured_media":56173,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-56172","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\/56172"}],"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=56172"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/56172\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/56173"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}