BNB (BNBUSD) Price: A Ranging Movement Between $605 and $553 Levels
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BNB (BNBUSD) Price: A Ranging Movement Between $605 and $553 Levels

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Azeez Mustapha

Updated:

BNBUSD awaits a breakout

BNBUSD Price Analysis: 02 August

If buyers can hold onto the $553 support level and break through the $605 resistance level, they might be able to drive price to test the $654 and $688 resistance levels. If BNBUSD breaks below the crucial $553 level, it will test the prior lows of $516 and $456.

BNB/USD Market

Key levels:

Supply levels: $605, $654, $688

Demand levels: $553, $516, $456

BNBUSD Long-term Trend: Bearish

The BNBUSD daily chart is exhibiting a lot of bearish activity. The value of the cryptocurrency dropped from $654 to $516 a few weeks ago. The $654 barrier, which was once a level of support, became a level of resistance as the bears gained strength. Buyers controlled the BNB market the week prior, and it reached a peak of $725. There were indications of bearish resistance at the $725 resistance level. There has been a reversal towards $456 because sellers are willing to buck the increasing trend and lower the price. Right now, there are increasing price fluctuations.

BNB (BNBUSD) Price: A Ranging Movement Between 5 and 3 Levels

Hull Suite forex signals indicate that the price of the SPONGEUSDT is currently inclining above the indication of cryptocurrency signals. If buyers can hold onto the $553 support level and break through the $605 resistance level, they might be able to drive price to test the $654 and $688 resistance levels. If BNB breaks below the crucial $553 level, it will test the prior lows of $516 and $456.

BNBUSD medium-term Trend: Bullish

Over the next four hours, the price of BNBUSD could increase due to the positive impact on the currency. After the BNB crossed the $516 threshold, a climbing trend began. On July 8, this was brought to our notice. In the end, $516 was spent in all. On July 8, the price broke above $516 and was driven higher by bull impetus. As of right present, the cost is $605.

BNB (BNBUSD) Price: A Ranging Movement Between 5 and 3 Levels
The indication for the Hull Suite is currently higher than the trading for BNB. A strong buy is indicated by the QQE MOD indicator’s signal line being above zero.

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