BNB (BNBUSD) Price: Bearish Pressure to Break Down $581 Level

Azeez Mustapha

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Bears are dominating BNBUSD market

BNBUSD Price Analysis: 21 June

Buyers may be able to challenge the $899 and $725 resistance levels if they are able to breach the $654 resistance level and hold onto the $581 support level. BNB will test the prior lows of $516 and $456 if it breaks below the critical $581 level and $654 holds.

BNB/USD Market

Key levels:

Supply levels: $654, $688, $725

Demand levels: $581, $516, $456

BNBUSD Long-term Trend: Bearish

The BNBUSD daily chart is showing significant bearish activity.  The cryptocurrency’s value shifted from $654 to $581.This goes on like this for a few weeks. As the bulls gathered momentum, the $654 barrier—which had previously been a level of resistance—became a level of support. Over the previous week, buyers have dominated the BNB market, which peaked at $725. The resistance level of $725 saw bearish opposition. A reversal has occurred in the direction of $581, as sellers are eager to defy the upward trend and drive the price down.

BNB (BNBUSD) Price: Bearish Pressure to Break Down $581 Level

The price of the SPONGEUSDT is presently declining below the indication of cryptocurrency signals, according to Hull Suite forex signals.  Buyers may be able to challenge the $899 and $725 resistance levels if they are able to breach the $654 resistance level and hold onto the $581 support level. BNB will test the prior lows of $516 and $456 if it breaks below the critical $581 level and $654 holds.

BNBUSD medium-term Trend: Bearish

BNBUSD is under negative pressure, and the coin’s price could drop for the next four hours. A positive trend started the instant the BNB crossed the $581 threshold. On May 20, we were made aware of this. The whole amount spent came to $725 in the end. Due to bear pressure, the price started a downward trend on June 6th when it was unable to break above the $725 level. At the moment, the price is testing the $583 mark.

BNB (BNBUSD) Price: Bearish Pressure to Break Down $581 Level

At the moment, BNB is trading below the indication of the Hull Suite. It is regarded as a strong sell when the QQE MOD indicator signal line is below zero.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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