BNB Price on the Rise: Resistance and Support Levels

Binance Coin (BNB) price has been rising lately, trading around $555 at the moment after a surge from the $515 support level. To sustain this rise, it needs to break the $572 resistance level. With a breakthrough of the $540 resistance level, an important upward signal has been given. New Upward Trend Begins BNB, along with Ethereum and Bitcoin, has seen an upward trend. The price first surpassed the $525 and $530 resistance levels and is currently trading at $554. The immediate resistance is at $560, and breaking this level will lead to a larger resistance level at $572. Potential Upward and Down Scenarios If the $572 resistance level is broken, the price can test $600 and, if it can close above this level, it can advance to the next resistance level at $630. However, if it fails to break the $572 resistance, a downward trend may begin, with tests […]

BNB Price on the Rise: Resistance and Support Levels

Binance Coin (BNB) price has been rising lately, trading around $555 at the moment after a surge from the $515 support level. To sustain this rise, it needs to break the $572 resistance level. With a breakthrough of the $540 resistance level, an important upward signal has been given.

New Upward Trend Begins

BNB, along with Ethereum and Bitcoin, has seen an upward trend. The price first surpassed the $525 and $530 resistance levels and is currently trading at $554. The immediate resistance is at $560, and breaking this level will lead to a larger resistance level at $572.

Potential Upward and Down Scenarios

If the $572 resistance level is broken, the price can test $600 and, if it can close above this level, it can advance to the next resistance level at $630. However, if it fails to break the $572 resistance, a downward trend may begin, with tests at $532, $520, and the critical $515 support level. Breaking below these supports increases the likelihood of a decline to lower support levels at $500 and $465.

Useful Information

If the $572 resistance level is not broken, a downward trend may begin for BNB.
Closures at $600 and above can trigger an upward trend towards $630.
Support levels to consider are $532, $520, and $515.
The current state of BNB’s price has critical support and resistance levels that investors need to closely monitor for important clues about the general market trend.

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