BNB (BNBUSD) Price May Retest Previous Low at $456 Level

Sellers are ruling BNBUSD market

BNBUSD Price Analysis: 30 August

If buyers can hold onto the $516 support level and break past the $553 resistance level, they might be able to drive price to test the $605 and $654 resistance levels. If BNBUSD manages to breach the crucial $516 level, it is anticipated to test the prior lows of $456 and $400.

BNB/USD Market

Key levels:

Supply levels: $553, $605, $654

Demand levels: $516, $456, $400

BNBUSD Long-term Trend: Bearish

The BNBUSD daily chart shows a lot of bearish activity. The value of the cryptocurrency dropped from $654 to $516 a few weeks ago. The $654 barrier, which was once a level of resistance, turned into a level of opposition as the bears gained strength. The BNB market was controlled by purchasers the week prior, and the price peaked at $654. There were indications of a negative reversal at the indicated level of resistance. There has been a reversal towards $516, as sellers are willing to buck the upward trend and lower the price. Right now, there are decreasing price towards $516.

Hull Suite forex signals indicate that the price of the SPONGEUSDT is currently decline below the indication of cryptocurrency signals. If buyers can hold onto the $516 support level and break past the $553 resistance level, they might be able to drive price to test the $605 and $654 resistance levels. If BNB manages to breach the crucial $516 level, it is anticipated to test the prior lows of $456 and $400.

BNBUSD medium-term Trend: Bearish

Over the next four hours, the price of BNBUSD could decrease due to the negative impact on the crypto. The BNB began to decrease strongly after breaking through the $553 barrier. On August 24, this was brought to our notice. There was $516 spent in all. On August 26, the price broke below $553 due to bears’ momentum. At present, its cost is $516.

At the moment, the BNB trading is lower than the Hull Suite indicator. The signal line of the QQE MOD indicator is below zero, indicating a strong sell.

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