BNB (BNBUSD) Price: Buyers May Push Price to Test $642.3 Level

More pressure from Buyers in BNBUSD market

BNBUSD Price Analysis: 18 October

Buyers may be able to push the price to test the $642.3 and $688.3 resistance levels if they can hold onto the $586.5 support level and breach above the $606.1 resistance level. It is expected that BNB will test the previous lows of $557.9 and $537.0 if it can overcome the critical $586.5 barrier.

BNB/USD Market

Key levels:

Supply levels: $606.1, $642.3, $688.3

Demand levels: $586.5, $557.9, $537.0

BNBUSD Long-term Trend: Bullish

The BNBUSD daily chart shows a great deal of bullish action. A few weeks ago, the cryptocurrency’s price rose from $537.0 to $606.1. The $516.4 barrier, which had provided some support, became a barrier to breach as the bulls gained momentum. Sellers dominated the market the week before, when BNB hit its low price of $537.0. There were indications of a positive reversal at the anticipated support level. In contrast to the decreasing trend, the price’s recent reversal towards $606.1 suggests that buyers would be prepared to make a larger offer. Right now, the price is getting close to $808.1.

The price of the SPONGEUSDT is presently inclining above the cryptocurrency signals, according to the Hull Suite FX indicators. Buyers may be able to push the price to test the $642.3 and $688.3 resistance levels if they can hold onto the $586.5 support level and breach above the $606.1 resistance level. It is expected that BNB will test the previous lows of $557.9 and $537.0 if it can overcome the critical $586.5 barrier.

BNBUSD medium-term Trend: Bullish

The price of BNBUSD may incline during the next four hours as a result of the coin’s favorable influence. The BNB tested $537.0 and then started to rise. This was communicated to us on September 28. The entire amount paid came to $606.1. The bulls’ zeal caused the price to break above $586.1 The price is currently more $586.5.

The BNB trade is currently above the Hull Suite indicator. When the signal line of the QQE MOD indicator is above zero, it signifies a big buy.

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