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

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Azeez Mustapha

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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.

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

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.

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