BNB (BNBUSD) Price Awaiting a Breakout at $689.7 Barrier

Bears are gathering momentum

BNBUSD Price Analysis: 03 January

If buyers can hold onto the $689.7 support level and break above the $726.3 resistance level, they might be able to drive the price to test the $756.0 and $792.0 resistance levels. If BNB can break through the crucial $689.7 level, it should target the previous lows of $662.0 and $607.2.

Key levels:

Supply levels: $726.3, $756.0, $792.6

Demand levels: $689.7, $662.0, $607.2

BNBUSD Long-term Trend: Bearish

On the BNBUSD daily chart, negative movement can be seen. The price of the cryptocurrency began to increase on November 6 and went from $585.5 to $756.0. The bulls gained strength and burst above the $662.0 barrier, which offered some resistance. When BNB increased to $689.7 the previous week, buying took over the market. At the expected resistance level, there were signs of a favorable reversal. The price’s recent reversal around $756.0 indicates that sellers would take a higher offer, which runs counter to the upward trend. The current price is $689.7.

The Hull Suite FX indications show that the price of the BNBUSD is currently declining below the cryptocurrency signals. If buyers can hold onto the $689.7 support level and break above the $726.3 resistance level, they might be able to drive the price to test the $756.0 and $792.0 resistance levels. If BNB can break through the crucial $689.7 level, it should target the previous lows of $662.0 and $607.2.

BNBUSD medium-term Trend: Bearish

The price of BNBUSD may decline during the next four hours as a result of the coin’s unfavorable consequences. The BNB tested at $756.0 and then started to fall. We were informed on December 4 that $662.0 had been paid in total. The bears’ zeal caused the price to drop below the goal level. The lowest price at the moment is $689.7.

The BNB trade is above the Hull Suite indicator. Significant selling is indicated when the QQE MOD indicator’s signal line is below zero.

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