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BNB Price Targeting $600: Can It Reclaim This Milestone?

July 31, 2024Updated:July 31, 2024No Comments3 Mins Read
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BNB Price Targeting 0: Can It Reclaim This Milestone?
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BNB value is holding the $565 help zone. The worth is now consolidating and would possibly intention for extra positive aspects above $590 within the close to time period.

  • BNB value began an honest upward transfer from the $565 help zone.
  • The worth is now buying and selling above $580 and the 100-hourly easy shifting common.
  • There was a break above a key bearish development line with resistance at $582 on the hourly chart of the BNB/USD pair (knowledge supply from Binance).
  • The pair may lengthen its improve if it clears the $590 resistance within the close to time period.

BNB Worth Eyes Extra Upsides

Prior to now few days, BNB value noticed an honest upward transfer from the $565 help zone, like Ethereum and Bitcoin. The worth was capable of climb above the $572 and $580 resistance ranges.

It even cleared the $582 resistance. The present wave surpassed the 50% Fib retracement degree of the downward transfer from the $597 swing excessive to the $568 low. Apart from, there was a break above a key bearish development line with resistance at $582 on the hourly chart of the BNB/USD pair.

The worth is now buying and selling above $582 and the 100-hourly easy shifting common. It’s now consolidating close to the 61.8% Fib retracement degree of the downward transfer from the $597 swing excessive to the $568 low.

BNB Price Targeting 0: Can It Reclaim This Milestone?

On the upside, the worth may face resistance close to the $588 degree. The subsequent resistance sits close to the $590 degree. A transparent transfer above the $590 zone may ship the worth increased. Within the acknowledged case, BNB value may check $600. An in depth above the $600 resistance would possibly set the tempo for a bigger improve towards the $620 resistance. Any extra positive aspects would possibly name for a check of the $632 degree within the close to time period.

Are Dips Restricted?

If BNB fails to clear the $590 resistance, it may begin a draw back correction. Preliminary help on the draw back is close to the $582 degree or the 100-hourly easy shifting common.

The subsequent main help is close to the $575 degree. The principle help sits at $565. If there’s a draw back break under the $565 help, the worth may drop towards the $550 help. Any extra losses may provoke a bigger decline towards the $532 degree.

Technical Indicators

Hourly MACD – The MACD for BNB/USD is gaining tempo within the bullish zone.

Hourly RSI (Relative Energy Index) – The RSI for BNB/USD is at the moment above the 50 degree.

Main Assist Ranges – $582 and $575.

Main Resistance Ranges – $590 and $600.



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BNB milestone Price Reclaim Targeting
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