BNB (BNBUSD) Price Is Seeking For a Breakout

BNB Price is dangling between $622 and $572 levels

BNBUSD Price Analysis: 10 May

If buyers can break over the $622 resistance level and hold onto the $572 support level, they might be able to take on the $647 and $686 resistance levels. If BNB goes below the crucial $572 barrier and $622 holds, it will test the previous lows of $545 and $516.

BNB/USD Market

Key levels:

Supply levels: $622, $647, $686

Demand levels: $572, $545, $516

BNBUSD Long-term Trend: Ranging

The daily BNBUSD chart exhibits range 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, which peaked at $647, was dominated by buyers throughout the preceding two weeks. Bulls were up against Bears at the level mentioned earlier. There is presently a significant desire among sellers to push the price lower in opposition to the bullish momentum, which leads to restricted movement between the $622 and $572 levels.

According to Hull Suite forex signals, the price of the cryptocurrency is currently erratic and just above the indication of cryptocurrency signals.  If buyers can break over the $622 resistance level and hold onto the $572 support level, they might be able to take on the $647 and $686 resistance levels. If BNB goes below the crucial $572 barrier and $622 holds, it will test the previous lows of $545 and $516.

BNBUSD medium-term Trend: Ranging

Over the course of the following four hours, the coin might continue to consolidate. A downward trend began as soon as the BNB crossed $545. On March 15th, this was observed, not too far from the $647 resistance level. In the end, less was spent. On March 15, the price dropped to $572 as bear pressure increased when it reached the $647 barrier level. The price is currently bouncing between the $545 support level and the $622 resistance level.

At the moment, BNB is trading near the Hull Suite crypto signals. When the QQE MOD indication signal line falls below zero, it indicates a sell.

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