BNB (BNBUSD) Price Is Declining Towards $662.0 Barrier

Bears are overpowering Bulls

BNBUSD Price Analysis: 31 January

If buyers can hold onto the $662.0 support level and break above the $686.2 resistance level, they might be able to drive the price to test the $730.0 and $756.0 resistance levels. If BNB can break through the crucial $662.0 level, it should target the previous lows of $642.3 and $606.1.

Key levels:

Supply levels: $686.2, $730.0, $756.0

Demand levels: $662.0, $642.3, $606.1

BNBUSD Long-term Trend: Bearish

The BNBUSD daily chart is declining. The price of the crypto currency began to increase on November 6 and went from $585.5 to $756.0. The bulls gained strength and burst above the $662.0 barrier, which offered some resistance. When BNB increased to $686.2 the previous week, buying ruled the market. At the expected resistance level, there were signs of a bearish reversal. The price’s recent reversal around $756.0 indicates that sellers would accept a higher offer, which is in contrast to the upward trend. The price is currently less than $686.2.

The Hull Suite FX indicators show that the price of the BNBUSD is currently declining below the crypto signals. If buyers can hold onto the $662.0 support level and break above the $686.2 resistance level, they might be able to drive the price to test the $730.0 and $756.0 resistance levels. If BNB can break through the crucial $662.0 level, it should target the previous lows of $642.3 and $606.1.

BNBUSD medium-term Trend: Bearish

The price of BNBUSD may decline during the next four hours as a result of the coin’s unfavorable consequences. The BNB tested at $756.0 and then started to fall. We learned that $662.0 had been paid in total on December 4. The bears’ zeal caused the price to drop below the goal level. The lowest price was $686.2 last week. Today, the price is declining and is getting close to $662.0.

The BNB trade is below the Hull Suite indicator. Significant selling is indicated when the QQE MOD indicator’s signal line is below zero.