{"id":2120,"date":"2024-12-23T19:13:10","date_gmt":"2024-12-23T19:13:10","guid":{"rendered":"https:\/\/coinsvalue.net\/blog\/bnb-steadies-above-support-will-bullish-momentum-return\/"},"modified":"2024-12-23T19:13:10","modified_gmt":"2024-12-23T19:13:10","slug":"bnb-steadies-above-support-will-bullish-momentum-return","status":"publish","type":"post","link":"https:\/\/coinsvalue.net\/blog\/bnb-steadies-above-support-will-bullish-momentum-return\/","title":{"rendered":"BNB Steadies Above Support: Will Bullish Momentum Return?"},"content":{"rendered":"<p><em>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<ul>\n<li>BNB price is struggling to settle above the $700 pivot zone.<\/li>\n<li>The price is now trading below $680 and the 100-hourly simple moving average.<\/li>\n<li>There is a key bearish trend line forming with resistance at $675 on the hourly chart of the BNB\/USD pair (data source from Binance).<\/li>\n<li>The pair must stay above the $640 level to start another increase in the near term.<\/li>\n<\/ul>\n<h2>BNB Price Holds Support<\/h2>\n<p>After a downside correction, BNB price found support at $620. It is now recovering losses like Ethereum and Bitcoin. There was a move above the $675 level before the bears appeared at $695.<\/p>\n<p>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<p>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<p>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<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"size-full wp-image-666299\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/12\/Binance-Coin-BNB-2.png?resize=1024%2C478\" alt=\"BNB Price\" width=\"1024\" height=\"478\" \/><\/p>\n<p>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<h2>Another Dip?<\/h2>\n<p>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<p>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<p>Technical Indicators<\/p>\n<p>Hourly MACD \u2013 The MACD for BNB\/USD is losing pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BNB\/USD is currently above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $640 and $620.<\/p>\n<p>Major Resistance Levels \u2013 $675 and $692.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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&hellip;<\/p>\n","protected":false},"author":1,"featured_media":2121,"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-2120","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\/2120","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=2120"}],"version-history":[{"count":0,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/2120\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media\/2121"}],"wp:attachment":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media?parent=2120"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/categories?post=2120"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/tags?post=2120"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}