BNB (BNBUSD) Price Experiencing a Bearish Reversal at $725 Level

Bears are taken over BNBUSD market

BNBUSD Price Analysis: 14 June

If buyers can break through the $654 resistance level and maintain a hold of the $581 support level, they might be able to take on the $899 and $725 resistance levels. If BNBUSD goes below the crucial $581 level and $654 holds, it will test the previous lows of $516 and $456.

BNB/USD Market

Key levels:

Supply levels: $654, $688, $725

Demand levels: $581, $516, $456

BNBUSD Long-term Trend: Bearish

The daily chart of BNBUSD exhibits strong bullish action.  The price of the cryptocurrency fluctuated between $654 and $581.This situation continues for several weeks. The $654 barrier, which had been a level of resistance, turned into a level of support as the bulls gained traction. The BNBUSD market was dominated by buyers for the past week, reaching a peak of $725. There was a bearish opposition at the resistance level of $725. There has been a reversal towards the $581 mark as sellers are keen to buck the increasing trend by pushing the price lower.

According to Hull Suite forex signals, the price of the SPONGEUSDT is currently falling below the indication of cryptocurrency signals.  If buyers can break through the $654 resistance level and maintain a hold of the $581 support level, they might be able to take on the $899 and $725 resistance levels. If BNB goes below the crucial $581 level and $654 holds, it will test the previous lows of $516 and $456.

BNBUSD medium-term Trend: Bearish

There is negative pressure on BNBUSD, and over the next four hours, the price of the coin may fall. The moment the BNB passed the $581 mark, a bullish trend began. We were aware of this on May 20th. In the end, more money was spent to $725. On June 6th, when the price could not pass over the $725 barrier, it began a down trend under the pressure of bears. The price is currently testing $583 level.

Right now, BNB is trading below the Hull Suite indicator. When the QQE MOD indication signal line is below zero, it is considered a strong sell.

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