BNB (BNBUSD) Price May Be Pushed Above $606.1 Level

Buyers are gradually taken over

BNBUSD Price Analysis: 09 November

If buyers can hold onto the $586.5 support level and break above the $606.1 resistance level, they might be able to drive the price to test the $642.3 and $688.3 resistance levels. If BNB can break through the crucial $586.5 barrier, it is anticipated to challenge the prior lows of $557.9 and $537.0.

BNB/USD Market

Key levels:

Supply levels: $606.1, $642.3, $688.3

Demand levels: $586.5, $557.9, $537.0

BNBUSD Long-term Trend: Bearish

The daily chart of the BNBUSD is displaying negative activity. The price of the cryptocurrency increased from $537.0 to $606.1 a few weeks ago. The bulls gained strength and broke over the $516.4 barrier, which had offered some support. When BNB fell to $537.0 the previous week, selling took over the market. At the expected support level, there were signs of a favorable reversal. The price’s recent reverse towards $557.9, in contrast to the increasing trend, indicates that sellers would be willing to make a cheaper offer. The price is currently approaching $586.5.

The Hull Suite FX indications show that the price of the SPONGEUSDT is now falling below the cryptocurrency signals. If buyers can hold onto the $586.5 support level and break above the $606.1 resistance level, they might be able to drive the price to test the $642.3 and $688.3 resistance levels. If BNB can break through the crucial $586.5 barrier, it is anticipated to challenge the prior lows of $557.9 and $537.0

BNBUSD medium-term Trend: Bullish

Because of the coin’s positive impact, the price of BNBUSD may rise during the course of the following four hours. After testing at $606.1, the BNB began to incline. We were informed of this on October 29. A total of $557.0 was paid. The price rise above $586.5 due to the bulls’ fervor. Right now, the price is $586.5 high.

At the moment, the BNB trade is above the Hull Suite indicator. Significant purchases are indicated when the QQE MOD indicator’s signal line is above zero.

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