BNB (BNBUSD) Price Is Fluctuating Between $622 and $545 Levels
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BNB (BNBUSD) Price Is Fluctuating Between $622 and $545 Levels

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Azeez Mustapha

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Buyers and Sellers War in BNB Market

BNBUSD Price Analysis: 17 May

Buyers may be able to challenge the $647 and $686 resistance levels if they can overcome the $622 resistance level and hold onto the $572 support level. BNB will test the prior lows of $545 and $516 if it breaks below the critical $572 level and $622 holds.

BNB/USD Market

Key levels:

Supply levels: $622, $647, $686

Demand levels: $572, $545, $516

BNBUSD Long-term Trend: Ranging

The daily BNBUSD chart shows movement within the range. A few weeks ago, the price of the cryptocurrency burst out of the range movement between $386 and $410. As the bulls gathered momentum, the $516 barrier—which had previously been a level of resistance—became a level of support. During the previous two weeks, buyers controlled the BNB market, which peaked at $647. At the previously indicated level, bulls faced bears. Sellers currently have a strong desire to counter the bullish momentum by driving the price lower, which results in limited movement between the $622 and $572 levels.

BNB (BNBUSD) Price Is Fluctuating Between 2 and 5 Levels

The price of the cryptocurrency is now unstable and slightly above the indication of cryptocurrency signals, according to Hull Suite forex signals.  Buyers may be able to challenge the $647 and $686 resistance levels if they can overcome the $622 resistance level and hold onto the $572 support level. BNB will test the prior lows of $545 and $516 if it breaks below the critical $572 level and $622 holds.

BNBUSD medium-term Trend: Ranging

The coin could perhaps continue to consolidate over the next four hours. As soon as the BNB crossed $545, a negative trend started. This was noticed on March 15th, not too far from the $647 resistance level. Ultimately, less money was spent. When it hit the $647 barrier level on March 15, bear pressure intensified, and the price fell to $572. Right now, the price is fluctuating between the $622 resistance level and the $545 support level.

BNB (BNBUSD) Price Is Fluctuating Between 2 and 5 Levels

BNB is currently trading close to the Hull Suite signal. A sell is indicated when the QQE MOD indicator signal line drops below zero.

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