BNB (BNBUSD) Price: It Is Anticipated to Test $607 Resistance Level
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BNB (BNBUSD) Price: It Is Anticipated to Test $607 Resistance Level

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Azeez Mustapha

Updated:

Bulls are gradually taken over BNBUSD market

BNBUSD Price Analysis: 15 August

Buyers may be able to push BNBUSD to test the $554 and $607 resistance levels if they can hold onto the $458 support level and break past the $516 resistance level. BNB is expected to test the previous lows of $403 and $363 if it breaks below the critical $458 barrier.

BNB/USD Market

Key levels:

Supply levels: $554, $607, $654

Demand levels: $516, $458, $403

BNBUSD Long-term Trend: Bearish

The daily chart of BNBUSD shows a lot of bearish activity. The value of the cryptocurrency dropped from $654 to $516 a few weeks ago. The $654 barrier, which was once a level of support, turned into a level of opposition as the bears gained strength. Buyers controlled the BNB market the week prior, and it reached a peak of $725. There were indications of bearish resistance at the $725 resistance level. There has been a reversal towards $458 because sellers are willing to buck the upward trend and lower the price. Right now, there are increasing price fluctuations.

BNB (BNBUSD) Price: It Is Anticipated to Test $607 Resistance Level

Hull Suite forex signals indicate that the price of the SPONGEUSDT is currently declined below the indication of cryptocurrency signals. If buyers can hold onto the $451 support level and break past the $554 resistance level, they might be able to drive price to test the $607 and $654 resistance levels. If BNB manages to breach the crucial $516 barrier, it is anticipated to test the prior lows of $458 and $403.

BNBUSD medium-term Trend: Bullish

Over the next four hours, the price of BNBUSD could increase due to the positive impact on the currency. Once it crossed the $516 threshold, the BNB began to soar. On August 5, this was brought to our notice. There was $516 spent in all. On August 5, the price broke above $458 due to bull momentum. It currently costs $520 as of right now.

BNB (BNBUSD) Price: It Is Anticipated to Test $607 Resistance Level At the moment, the BNB trading is higher than the Hull Suite indicator. The QQE MOD indicator’s signal line is above zero, signifying a strong buy.

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