BNB (BNBUSD) Price Is Breaks Up $516, Testing $581 Level

BNBUSD market will increase further

BNBUSD Price Analysis: 19 July

Buyers may be able to push price to test the $654 and $688 resistance levels if they can hold onto the $516 support level and overcome the $581 resistance level. BNB will test the previous lows of $456 and $400 if it breaks below the critical $516 level and $581 holds.

BNB/USD Market

Key levels:

Supply levels: $581, $654, $688

Demand levels: $516, $456, $400

BNBUSD Long-term Trend: Bearish

There is a lot of bearish activity on the BNBUSD daily chart. Few weeks ago, the cryptocurrency’s value fell from $654 to $516. As the bears got stronger, the $654 barrier—which had previously been a level of support—turned into a level of resistance. The week before, buyers dominated the BNB market, which peaked at $725. The $725 resistance level showed signs of bearish resistance. Because sellers are prepared to deviate from the upward trend and cut the price, there has been a reversal towards $456. At $456, the price is currently fluctuating upward.

The price of the SPONGEUSDT is presently inclining above the indication of cryptocurrency signals, according to Hull Suite forex signals. Buyers may be able to push price to test the $654 and $688 resistance levels if they can hold onto the $516 support level and overcome the $581 resistance level. BNB will test the previous lows of $456 and $400 if it breaks below the critical $516 level and $581 holds.

BNBUSD medium-term Trend: Bullish

The favorable effect on the currency may cause the price of BNBUSD to rise over the following four hours. A rising trend started when the BNB passed the $516 mark. This was brought to our attention on July 8. The total amount spent was $516 in the end. Bulls’ pressure forced the price higher on July 8th after it broke over the $516 mark. Right now, the price is testing $581.

Right now, the Hull Suite’s indicator is higher than BNB’s trade. The QQE MOD indicator’s signal line is above zero, signifying a strong buy.

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