{"id":1036,"date":"2024-10-28T19:13:09","date_gmt":"2024-10-28T19:13:09","guid":{"rendered":"https:\/\/coinsvalue.net\/blog\/bnb-price-aims-to-reclaim-600-will-the-bulls-succeed\/"},"modified":"2024-10-28T19:13:09","modified_gmt":"2024-10-28T19:13:09","slug":"bnb-price-aims-to-reclaim-600-will-the-bulls-succeed","status":"publish","type":"post","link":"https:\/\/coinsvalue.net\/blog\/bnb-price-aims-to-reclaim-600-will-the-bulls-succeed\/","title":{"rendered":"BNB Price Aims To Reclaim $600: Will The Bulls Succeed?"},"content":{"rendered":"<p><em>BNB price corrected gains below the $580 level. The price is now recovering higher and facing hurdles near the $590 resistance zone.<\/em><\/p>\n<ul>\n<li>BNB price started a downside correction from the $600 resistance zone.<\/li>\n<li>The price is now trading below $590 and the 100-hourly simple moving average.<\/li>\n<li>There was a break above a connecting bearish trend line with resistance at $585 on the hourly chart of the BNB\/USD pair (data source from Binance).<\/li>\n<li>The pair must stay above the $590 level to start another increase in the near term.<\/li>\n<\/ul>\n<h2>BNB Price Aims Fresh Increase<\/h2>\n<p>After struggling above $605, BNB price saw a downside correction. The price dipped below the $590 and $585 support levels like Ethereum and Bitcoin.<\/p>\n<p>There was a move below the $580 and $575 levels. The price even dipped below $572 before the bulls appeared near $590. A low was formed at $565 and the price is now correcting losses. It climbed above the $575 level and the 50% Fib retracement level of the downward move from the $598 swing high to the $565 low.<\/p>\n<p>There was a break above a connecting bearish trend line with resistance at $585 on the hourly chart of the BNB\/USD pair. The price is now trading below $590 and the 100-hourly simple moving average.<\/p>\n<p>If there is a fresh increase, the price could face resistance near the $590 level or the 76.4% Fib retracement level of the downward move from the $598 swing high to the $565 low.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"wp-image-650187 size-full\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/10\/Binance-Coin-BNB-2.png?resize=1024%2C478\" alt=\"BNB Price\" width=\"1024\" height=\"478\" \/><\/p>\n<p>The next resistance sits near the $598 level. A clear move above the $598 zone could send the price higher. In the stated case, BNB price could test $605. A close above the $605 resistance might set the pace for a larger move toward the $620 resistance. Any more gains might call for a test of the $632 level in the near term.<\/p>\n<h2>Another Decline?<\/h2>\n<p>If BNB fails to clear the $590 resistance, it could start another decline. Initial support on the downside is near the $585 level. The next major support is near the $582 level.<\/p>\n<p>The main support sits at $572. If there is a downside break below the $572 support, the price could drop toward the $565 support. Any more losses could initiate a larger decline toward the $550 level.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD \u2013 The MACD for BNB\/USD is losing pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BNB\/USD is currently near the 50 level.<\/p>\n<p>Major Support Levels \u2013 $585 and $582.<\/p>\n<p>Major Resistance Levels \u2013 $590 and $598.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BNB price corrected gains below the $580 level. The price is now recovering higher and facing hurdles near the $590 resistance zone. BNB price started a downside correction from the $600 resistance zone. The price is now trading below $590 and the 100-hourly simple moving average. There was a break above a connecting bearish trend&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1037,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[270],"tags":[584,271,585,586,273,274],"class_list":["post-1036","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bnb","tag-binance-coin","tag-bnb","tag-bnb-price","tag-bnbbtc","tag-bnbusd","tag-bnbusdt"],"_links":{"self":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/1036","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/comments?post=1036"}],"version-history":[{"count":0,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/1036\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media\/1037"}],"wp:attachment":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media?parent=1036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/categories?post=1036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/tags?post=1036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}