BNB Price Could Regain Momentum: Is an Upswing Coming?

Oct 1, 2024 06:00 am Cryptocurrency 33

BNB price corrected gains below the $600 level. The price is now holding the key $565 support and might aim for a fresh increase.

BNB price started a downside correction from the $620 resistance zone.

The price is now trading below $590 and the 100-hourly simple moving average.

There is a key bearish trend line forming with resistance at $585 on the hourly chart of the BNB/USD pair (data source from Binance).

The pair must stay above the $565 level to start another increase in the near term.

BNB Price Extends Rally

After a major upward move, BNB price saw a rejection pattern nears the $620 zone. A high was formed at $618 and the price started a downside correction like Ethereum and Bitcoin.

There was a move below the $600 and $590 levels. The price even dipped below $580 before the ..

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