BNB Stabilizes Above $580 And Resumes Its Advance
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BNB (BNB) Long-Term Analysis: Bearish
BNB’s price has returned above the 21-day SMA and resumes its advance. The bears breached below the 21-day SMA but were unable to maintain their negative momentum beyond the 50-day SMA. The bulls have the opportunity to restart their bullish ascension if buyers retain the price above the 21-day SMA.
On the upside, if the positive trend continues, the altcoin’s price will rise and break through the resistance level at $645. BNB will reach its goal price of $700. Meanwhile, the crypto price is stabilizing above the 21-day SMA, indicating a likely gain.
Technical indicators:
Major Resistance Levels – $600, $660, $720
Major Support Levels – $400, $340, $280
BNB (BNB) Indicator Analysis
Following the current market comeback, the cryptocurrency price has rebounded above the 21-day SMA. Price movement has been restrained by the presence of Doji candlesticks. Although the trend is sideways, the moving average lines are sloping northward.
What Is the Next Direction for BNB (BNB)?
BNB has returned to the price range and resumes its advance. The rising trend is encountering its first impediment near $600. The crypto signal’s range will continue as long as the 21-day SMA support is in place. Since March 13, bulls and bears have competed for price possession above the 21-day SMA support.
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