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BNB Price awaiting a breakout
BNBUSD Price Analysis: 26 April
If buyers can break above the $635 resistance level and hold onto the $544 support level, they might be able to take on the $674 and $686 resistance levels. If BNB goes below the crucial $544 barrier and $635 holds, it will test the previous lows of $592 and $428.
BNB/USD Market
Key levels:
Supply levels: $635, $674, $686
Demand levels: $544, $592, $428
BNBUSD Long-term Trend: Ranging
The daily chart of BNBUSD is on a ranging movement. The cryptocurrency’s price broke out of the range movement between $386 and $410 a few weeks ago. The $428 barrier, which had been a level of resistance, turned into a level of support as the bulls gained traction. The BNB market was dominated by buyers the previous two weeks, reaching a high price of $635. At the aforementioned level, bears were in opposition to bulls. Right now, there’s a strong desire to drive the price lower but buyers are opposing the bearish movement, it leads to restricted movement within $635 and $544 levels.
According to Hull Suite forex signals, the price of the cryptocurrency is now erratic and slightly above the indication of cryptocurrency signals. If buyers can break above the $635 resistance level and hold onto the $544 support level, they might be able to take on the $674 and $686 resistance levels. If BNB goes below the crucial $544 barrier and $635 holds, it will test the previous lows of $592 and $428.
BNBUSD medium-term Trend: Ranging
For the following four hours, the coin may continue to consolidate. No sooner had the BNB crossed $544 than a declining trend began. On March 15, this was observed not far from the resistance level of $674. In the end, prices were lowered. On March 15, when the $635 resistance level was tested, bear pressure increased and the price dropped to $493. The price is currently moving within the resistance level of $635 and the support level of $544.
At the moment, BNB is trading around the Hull Suite indication. When the QQE MOD indication signal line dips below zero, it indicates a sell.
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