BNB (BNBUSD) Price May Increase to $642.3 Level

Buyers’ momentum increase in BNBUSD market

BNBUSD Price Analysis: 20 September

Buyers may be able to push BNBUSD to test the $642.3 and $688.3 resistance levels if they can hold onto the $553.8 support level and break above the $597.6 resistance level. It is expected that BNB will test the previous lows of $516.4 and $456.2 if it can fall below the critical $553.8 barrier.

BNB/USD Market

Key levels:

Supply levels: $597.6, $642.3, $688.3

Demand levels: $553.8, $516.4, $456.2

BNBUSD Long-term Trend: Bullish

The BNBUSD daily chart is seeing a lot of bullish action. A few weeks ago, the cryptocurrency’s price fell from $688.3 to $516.4. The $688.3 barrier, which had previously been a gauge of support, turned into a level of resistance as the bears gathered momentum. The week before, when the price of BNB reached its highest point at $642.3, buyers controlled the market. At the predicted resistance level, there were signs of a positive reversal. The fact that the price has turned back towards $553.8 suggests that bidders are prepared to break with the inclining trend and make a larger offer. As of right now, the price is rising and approaching $597.6.

The price of the SPONGEUSDT is currently growing above the indication of cryptocurrency signals, according to Hull Suite forex signals. Buyers may be able to push price to test the $642.3 and $688.3 resistance levels if they can hold onto the $553.8 support level and break above the $597.6 resistance level. It is expected that BNB will test the previous lows of $516.4 and $456.2 if it can fall below the critical $553.8 barrier.

 

BNBUSD medium-term Trend: Bullish

The favorable effect on the coin could lead to an increase in BNBUSD’s price during the next four hours. Once the BNB surpassed $516.4, it started to rise. This was brought to our knowledge on September 7. All told, $553.8 was spent. The bulls’ momentum caused the price to break above $553.8 on September 18. It currently costs more than $553.8.

The BNB trade is currently above the Hull Suite indication. The QQE MOD indicator’s signal line being above zero indicates a significant sale.

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