BNB (BNBUSD) Price: Bears Oppose Bulls at $642.5 Zone

BNBUSD market trending downside

BNBUSD Price Analysis: 28 February

If buyers can hold onto the $662.9 support level and break above the $686.3 resistance level, they might be able to drive the price to test the $729.9 and $756.0 resistance levels. If BNBUSD can break over the crucial $662.9 barrier, it should target the previous lows of $643.4 and $606.7.

Key levels:

Supply levels: $586.5, $606.1, $642.6

Demand levels: $558.5, $537.0, $517.0

BNBUSD Long-term Trend: Bearish

The BNBUSD daily chart is bearish. The price of the cryptocurrency began to rise on February 3 and went from $517.0 to $729.9. The bulls grew stronger and broke up the $606.1 barrier, which offered some resistance. Following BNB’s recent spike above $642.6, buying dominated the market. At the expected resistance level, there were signs of a negative reversal. The price’s recent turnaround at $729.9 indicates that sellers may accept a greater offer, in agreement to the declining tendency. The price fall after retesting at its prior high of $642.6. The current price is around $558.5.

The Hull Suite FX indicators show that the price of the BNBUSD is currently falling below the crypto currency indications. If buyers can hold onto the $662.9 support level and break above the $686.3 resistance level, they might be able to drive the price to test the $729.9 and $756.0 resistance levels. If BNB can break over the crucial $662.9 barrier, it should target the previous lows of $643.4 and $606.7.

BNBUSD medium-term Trend: Bearish

The negative effects of the coin could lead to a decrease in the price of BNBUSD over the next four hours. Following testing at $642.6, the BNB started to fall. We learned that $729.0 had been paid in total on February 3. The bulls’ enthusiasm caused the price to soar over the goal level. The lowest price yesterday was $586.5. The price is getting close to $558.5 today.

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