BNB (BNBUSD) Price: Formation of Double Top Chart Pattern at $730.0

Bears are intensify pressure

BNBUSD Price Analysis: 10 January

Buyers may be able to push the price to test the $756.0 and $792.6 resistance levels if they can hold onto the $686.2 support level and break above the $730.0 resistance level. BNBUSD should go for the prior lows of $662.0 and $607.2 if it can overcome the critical $686.2 level.

Key levels:

Supply levels: $730.0, $756.0, $792.6

Demand levels: $686.2, $662.0, $607.2

BNBUSD Long-term Trend: Bearish

There is negative movement on the BNBUSD daily chart. On November 6, the cryptocurrency’s price started to rise, rising from $585.5 to $756.0. The $662.0 barrier provided some resistance, but the bulls grew stronger and broke above it. The market was dominated by purchasing when BNB rose to $689.7 the week before. There were indications of a negative reversal at the anticipated resistance level. In contrast to the increasing trend, the price’s recent reversal around $756.0 suggests that sellers would accept a higher offer. The pricing right now is $686.2.

The price of the BNBUSD is presently falling below the cryptocurrency signals, according to the Hull Suite FX indicators. Buyers may be able to push the price to test the $756.0 and $792.6 resistance levels if they can hold onto the $686.2 support level and break above the $730.0 resistance level. BNB should go for the prior lows of $662.0 and $607.2 if it can overcome the critical $686.2 level.

BNBUSD medium-term Trend: Bearish

The negative effects of the coin could cause the price of BNBUSD to drop during the course of the following four hours. After testing at $756.0, the BNB began to decline. On December 4, we received word that a total of $662.0 had been paid. The price fell below the target level due to the bears’ fervor. Right now, $686.2 is the lowest price.

The Hull Suite indication is above the BNB trade. When the signal line of the QQE MOD indicator is below zero, it indicates significant selling.

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