BNB Price Eyes makes a comeback: Can it restore power and gather higher?

The merger of BNB prices is higher than the support zone of $665. Prices are now showing positive signs and may gain more in the near term.

• BNB price is trying to recover from the $655 support zone.
• Now the price is trading below $675, while the 100-hour simple moving average.
• On the hourly chart of the BNB/USD pair (Binance’s data source), the connection trend line from the resistor is $665 (from Binance’s data source).
• The two must stay above the $660 level in order to increase again in the short term.

BNB price eye growth steadily

After forming the base at the $652 level, BNB prices began a new rise. The resistance levels of $655 and $665, such as Ethereum and Bitcoin, are higher than a move.

From the recent swingman high of $691 to a low of $653, the recent decline in FIB retracement levels exceeded the 23.6% FIB retracement level. Additionally, on the hourly table of the BNB/USD pair, there is a loss bearish trend line on the connected bearish trend line with a resistance of $665.

Now the price is trading below $675, while the 100-hour simple moving average. On the plus side, the price may face resistance at the $672 level. Recently, the FIB retracement level has dropped by 50% from the $691 Swing High to the $653 low.

The next resistor is near the $677 level. Clear action in areas above $677 could make prices higher. In the case of statements, the BNB price can be tested at $680. The shutdown above the resistor above $680 may make a step forward for a bigger move towards a $685 resistor. In the short term, more gains may require testing of the $700 level.

Another drop?

If the BNB fails to clear the $675 resistance, it may drop again. The initial support for disadvantages is close to the $665 level. The next major support is close to $662.

The main support is $655. If it is less than $655 support, the downside is that the price may drop to $650 support. More losses may cause a larger drop to the $642 level.

Technical Indicators

Hourly MACD – BNB/USD’s MACD is on the bullish pace of the region.

Hour RSI (Relative Strength Index) – The RSI of BNB/USD is currently above level 50.

Main support levels – $662 and $655.

Major resistance levels – $672 and $680.