Further price decrease is possible
BNBUSD Price Analysis: 20 December
If buyers can hold onto the $662.0 support level and break above the $689.7 resistance level, they might be able to drive the price to test the $726.3 and $756.0 resistance levels. If BNB can break through the crucial $662.0 level, it should target the previous lows of $607.2 and $585.5.
Key levels:
Supply levels: $689.7, $726.3, $756.0
Demand levels: $662.0, $607.2, $585.5
BNBUSD Long-term Trend: Bearish
Negative movement may be seen on the BNBUSD daily chart. The price of the cryptocurrency commenced an uptrend on 06 November from $585.5 to $756.0. The bulls gained strength and broke over the $662.0 mark, which offered some resistance. When BNB increased to $689.7 the previous week, buying took over the market. At the expected resistance level, there were signs of a favorable reversal. The price’s recent reversal at $756.0, in contrast to the upward trend, indicates that sellers would be amenable to a greater offer. The cost is currently $662.0.
The Hull Suite FX indications show that the price of the BNBUSD is currently decreasing below the cryptocurrency signals. If buyers can hold onto the $662.0 support level and break above the $689.7 resistance level, they might be able to drive the price to test the $726.3 and $756.0 resistance levels. If BNB can break through the crucial $662.0 level, it should target the previous lows of $607.2 and $585.5.
BNBUSD medium-term Trend: Bearish
Over the next four hours, the coin’s negative impacts may result to decrease in the price of BNBUSD. The BNB tested at $756.0 and then started to decrease. We were informed of this on December 04, $662.0 was the total amount paid. The zeal of the bears caused the price to drop below the predetermined level. The lowest price at the moment is $662.0.
The BNB trade is trading below the Hull Suite indicator. Significant selling is indicated when the QQE MOD indicator’s signal line is below zero.
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