Bitcoin 
Ethereum 
Tether 
Solana 
BNB 
XRP 
Dogecoin 
USDC 
Lido Staked Ether 
Cardano 
TRON 
Avalanche 
Shiba Inu 
Wrapped stETH 
Wrapped Bitcoin 
Toncoin 
Sui 
WETH 
Bitcoin Cash 
Chainlink 
Pepe 
Polkadot 
LEO Token 
Stellar 
NEAR Protocol 
Litecoin 
Aptos 
Wrapped eETH 
Uniswap 
USDS 
Cronos 
Hedera 
Internet Computer 
Ethereum Classic 
Bonk 
Bittensor 
Kaspa 
Render 
Ethena USDe 
WhiteBIT Coin 
POL (ex-MATIC) 
Dai 
Artificial Superintelligence Alliance 
MANTRA 
Arbitrum 
dogwifhat 
Monero 
Stacks 
OKB 
Filecoin 
BNB price is holding the $565 support zone. The price is now consolidating and might aim for more gains above $590 in the near term.
- BNB price started a decent upward move from the $565 support zone.
- The price is now trading above $580 and the 100-hourly simple moving average.
- There was a break above a key bearish trend line with resistance at $582 on the hourly chart of the BNB/USD pair (data source from Binance).
- The pair could extend its increase if it clears the $590 resistance in the near term.
BNB Price Eyes More Upsides
In the past few days, BNB price saw a decent upward move from the $565 support zone, like Ethereum and Bitcoin. The price was able to climb above the $572 and $580 resistance levels.
It even cleared the $582 resistance. The current wave surpassed the 50% Fib retracement level of the downward move from the $597 swing high to the $568 low. Besides, there was a break above a key bearish trend line with resistance at $582 on the hourly chart of the BNB/USD pair.
The price is now trading above $582 and the 100-hourly simple moving average. It is now consolidating near the 61.8% Fib retracement level of the downward move from the $597 swing high to the $568 low.
On the upside, the price could face resistance near the $588 level. The next resistance sits near the $590 level. A clear move above the $590 zone could send the price higher. In the stated case, BNB price could test $600. A close above the $600 resistance might set the pace for a larger increase toward the $620 resistance. Any more gains might call for a test of the $632 level in the near term.
Are Dips Limited?
If BNB fails to clear the $590 resistance, it could start a downside correction. Initial support on the downside is near the $582 level or the 100-hourly simple moving average.
The next major support is near the $575 level. The main support sits at $565. If there is a downside break below the $565 support, the price could drop toward the $550 support. Any more losses could initiate a larger decline toward the $532 level.
Technical Indicators
Hourly MACD – The MACD for BNB/USD is gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BNB/USD is currently above the 50 level.
Major Support Levels – $582 and $575.
Major Resistance Levels – $590 and $600.
