BNB Price Rebound Possible: Can It Climb Back to $720?

Jan 9, 2025 06:00 am Cryptocurrency 47

BNB price is consolidating above the $675 support zone. The price is consolidating and might aim for a fresh increase above the $700 resistance.

BNB price is struggling to settle above the $700 pivot zone.

The price is now trading below $700 and the 100-hourly simple moving average.

There was a break above a connecting bearish trend line with resistance at $695 on the hourly chart of the BNB/USD pair (data source from Binance).

The pair must stay above the $680 level to start another increase in the near term.

BNB Price Holds Support

After a downside correction, BNB price found support at $675. It is now recovering losses like Ethereum and Bitcoin. There was a move above the $685 level.

The price was able to recover above the 23.6% Fib retracement level of the downward move from the $745 ..

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