BNB (BNBUSD) Price Repel From $662.0 Resistance Level

Sellers are controlling BNB market

BNBUSD Price Analysis: 15 November

Buyers may be able to push the price to test the $662.0 and $688.3 resistance levels if they can hold onto the $606.1 support level and break above the $642.3 resistance level. It is expected that BNB will challenge the previous lows of $586.5 and $557.9 if it can overcome the critical $606.1 barrier

BNB/USD Market

Key levels:

Supply levels: $642.3, $662.0, $688.3

Demand levels: $606.1, $586.5, $557.9

BNBUSD Long-term Trend: Bearish

The BNBUSD’s daily chart is showing negative action. A few weeks ago, the cryptocurrency’s price rose from $537.0 to $606.1. The $516.4 barrier, which provided some support, was breached by the bulls as they gathered power. The market was dominated by selling when BNB dropped to $537.0 the week before. There were indications of a positive reversal at the anticipated support level. In contrast to the upward trend, the price’s recent reversal around $557.9 suggests that sellers would be open to a lower offer. Right now, the price is getting close to $586.5.

The price of the SPONGEUSDT is currently dropping below the cryptocurrency signals, according to the Hull Suite FX indicators. Buyers may be able to push the price to test the $662.0 and $688.3 resistance levels if they can hold onto the $606.1 support level and break above the $642.3 resistance level. It is expected that BNB will challenge the previous lows of $586.5 and $557.9 if it can overcome the critical $606.1 barrier.

BNBUSD medium-term Trend: Bearish

The coin’s unfavorable effect could cause the price of BNBUSD to decrease over the next four hours. Following testing at $662.0, the BNB started to fall. This was communicated to us on November 14. $606.1 was paid in total. The zeal of the bears caused the price to drop below $642.6. The current low price is $606.1.

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

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