BNB (BNB) Analysis Update: What’s Next for BNB Price?
BNB coin analysis by renowned crypto experts.
BNB Price Outlook: Bearish Trend
– On July 5, BNB dropped to $455.20 before rebounding.
– Continues uptrend since July 8, currently at $545.
– Bulls struggling to maintain price above 21-day SMA.
– Positive momentum expected to push price towards $590.
– Bearish scenario if rejected at 21-day SMA.
– Expected to range-bound between $470 support and above 21-day MA.
– Current BNB/USD value at $546.
BNB Technical Indicators
– Price bars on 4-hour chart above moving average lines.
– Price bars on daily chart below MA lines but above 21-day SMA.
– Resistance at $545 hindering uptrend.
Key Levels:
– Resistance: $600, $650, $700.
– Support: $400, $350, $300.
Future of BNB/USD
– BNB recovering from previous downtrend.
– Price bars above MA lines on 4-hour chart.
– Trading above MAs but below $540 high.
– Recent rebound above $540 but halted at $545 resistance.
– Bulls failed to maintain price above 21-day SMA on July 1.
– Bears broke support at $551, reaching a low of $454.
Hot Take: Conclusion on BNB Price
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