BNB (BNBUSD) Price May Break Up $605 Level to Test $654 Level

Buyers are dominating BNBUSD market

BNBUSD Price Analysis: 23 August

Buyers may be able to push price to test the $654 and $688 resistance levels if they can hold onto the $553 support level and break past the $605 resistance level. BNB is expected to test the previous lows of $516 and $456 if it is able to break through the critical $553 barrier.

BNB/USD Market

Key levels:

Supply levels: $605, $654, $688

Demand levels: $553, $516, $456

BNBUSD Long-term Trend: Bullish

There is a lot of bullish action visible on the BNBUSD daily chart. A few weeks ago, the cryptocurrency’s value fell from $654 to $516. As the bears got stronger, the $654 barrier—which had previously been a level of support—became a level of resistance. The week before, buyers dominated the BNB market, the price bottomed at $400 level. The mentioned level of support showed signs of bullish reversal. Because sellers are prepared to deviate from the upward trend and cut the price, there has been a reversal towards $605. There are rising price swings at the moment.

The price of the SPONGEUSDT is currently inclining above the indication of cryptocurrency signals, according to Hull Suite forex signals. Buyers may be able to push price to test the $654 and $688 resistance levels if they can hold onto the $553 support level and break past the $605 resistance level. BNB is expected to test the previous lows of $516 and $456 if it is able to break through the critical $553 barrier.

BNBUSD medium-term Trend: Bullish

The favorable effect on the currency may cause the price of BNBUSD to rise over the following four hours. After surpassing the $516 mark, the BNB started to rise sharply. This was brought to our attention on August 5. The total amount spent was $516. Bull momentum caused the price to break above $553 on August 19. It currently has a $553 price tag.

The BNB trading is currently higher than the Hull Suite indicator. A strong buy is indicated by the QQE MOD indicator’s signal line being above zero.

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