BNB (BNBUSD) Price May Decrease Further After a Pullback

Price retracement towards $726.3

BNBUSD Price Analysis: 27 December

Buyers may be able to push the price to test the $756.0 and $792.0 resistance levels if they can hold onto the $689.7 support level and break above the $726.3 resistance level. BNB should go for the prior lows of $662.0 and $607.2 if it can overcome the critical $689.7 level.

Key levels:

Supply levels: $726.3, $756.0, $792.6

Demand levels: $689.7, $662.0, $607.2

BNBUSD Long-term Trend: Bearish

It is possible to observe negative movement on the BNBUSD daily chart. On November 6, the cryptocurrency’s price started to rise, rising from $585.5 to $756.0. The $662.0 barrier provided some resistance, but the bulls gained strength and broke above it. The market was dominated by purchasing when BNB rose to $689.7 the week before. There were indications of a positive reversal at the anticipated resistance level. Contrary to the upward trend, the price’s recent reversal around $756.0 suggests that sellers would accept a higher offer. Right now, the price is $689.7.

The price of the BNBUSD is presently falling below the cryptocurrency signals, according to the Hull Suite FX indicators. Buyers may be able to push the price to test the $756.0 and $792.0 resistance levels if they can hold onto the $689.7 support level and break above the $726.3 resistance level. BNB should go for the prior lows of $662.0 and $607.2 if it can overcome the critical $689.7 level.

BNBUSD medium-term Trend: Bearish

The coin’s negative effects could cause the price of BNBUSD to drop during the course of the following four hours. After testing at $756.0, the BNB began to decline. On December 4, we were notified that the total amount paid was $662.0. The price fell below the target level due to the bears’ fervor. Right now, $689.7 is the lowest price.

The Hull Suite indication is below the BNB trade. When the signal line of the QQE MOD indicator is below zero, it indicates significant selling.

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