BNB Price Finds Footing After Clearing $605 Resistance Toward Higher Targets 📈
BNB has broken past the $605 resistance level, a crucial milestone indicating its resilience. This breakthrough has sparked renewed interest from traders and investors. The price is now stabilizing above this level, establishing it as a robust support zone. This stabilization hints at genuine buying pressure backing the breakout, rather than short-term speculation.
BNB’s ability to maintain a position above the $605 level signals growing bullish momentum. Buyers are defending the breakout, paving the way for potential targets near $630 and $650. Technical indicators, such as the MACD, support this, with the MACD line above
the signal line, indicating ongoing buying pressure. The 100-day SMA provides dynamic support, suggesting a broader bullish trend. If momentum continues, BNB could target $680, bolstering its bullish outlook. Overcoming resistance at this level might lead to a rally towards $724.
In case of a pullback, the $605 level is key support. Failure to hold could see a retreat to the $531 demand zone, historically strong support, or even the $500 level, aligning with the 100-day SMA.
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