BNB (BNBUSD) Price: Bulls Prevail Over Bears, $725 Level Tested

Buyers are ruling BNBUSD market

BNBUSD Price Analysis: 07 June

Buyers may be able to challenge the $755 and $805 resistance levels if they can breach the $725 resistance level and hold onto the $688 support level. BNBUSD will test the prior lows of $654 and $581 if it breaks below the critical $688 level and $725 holds.

BNB/USD Market

Key levels:

Supply levels: $725, $755, $805

Demand levels: $688, $654, $581

BNBUSD Long-term Trend: Bullish

BNBUSD daily chart shows strong bullish movement.  The cryptocurrency experienced a ranging movement between $654 and $581.This scenario persist for many weeks. As the bulls gathered momentum, the $654 barrier—which had previously been a level of resistance—became a level of support. For the last week, buyers controlled the BNB market, which peaked at $725 level. At the previously indicated level, there were bulls and bears involved. Since sellers are eager to counteract the upward trend by driving the price lower, there is now a little pullback towards $688 level.

The price of the SPONGEUSDT is now rising and it is above the indication of cryptocurrency signals, according to Hull Suite forex signals.  Buyers may be able to challenge the $755 and $805 resistance levels if they can breach the $725 resistance level and hold onto the $688 support level. BNB will test the prior lows of $654 and $581 if it breaks below the critical $688 level and $725 holds.

BNBUSD medium-term Trend: Bullish

BNBUSD is under bullish pressure and the coin could continue to push up price over the next four hours. As soon as the BNB crossed $581 level, a bullish trend started. This was noticed on May 20^th. More money was spent in the end. Bulls’ pressure was exerted on June 4th, when the price broke through the $688 barrier, and it increased to $725 level. Right now, the price is pulling back towards $688 level.

BNB is currently trading above the Hull Suite signal. A strong buy is indicated when the QQE MOD indicator signal line is above zero.

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