BNB rides a strong upward wave, rises more than 10 % as the bullish momentum continues to construction. This impressive gathering has made the closest price to the decisive resistance level of $ 724, a major barrier that can dictate its next main steps.
Over the past few days, BNB has shown strong pressure, indicating the renewal of the investor’s confidence. The increase comes amid more optimism in the market, as bulls aim to benefit from this step. However, the mark of $ 724 was historically a difficult area, as sellers previously intervened to arouse corrections.
With the transformation of market feelings in favor of Altcoins, BNB performance is seen closely. Will it invade $ 724, or will the resistance prove very strong? The coming days will be decisive in determining the next chapter of BNB.
Technical Analysis: Can BNB penetrate $ 724?
It has made it a 10 % increase than BNB closer to the level of decisive resistance and $ 724 challenges, and it will require a lot of pressure in purchase. The price of the cryptocurrency is currently trading over the simple moving average for 100 days (SMA), indicating that the upscale momentum remains intact. This technical indicator is often used to measure the direction of the total market, and trading on it indicates that buyers control and the upward trend may continue.
The continuous position over SMA for 100 days is a strong support level, which prevents deeper withdrawal and promoting market confidence. If the purchase pressure remains fixed, the price may continue its upward path to the main resistance levels.
However, the MACD index shows excessive conditions, indicating that the original may approach the phase of potential reflection or monotheism. When the MACD line moves much higher than the signal line and the graph expands, it often indicates that the upward pressure loses steam, and the price correction can be on the horizon.
MACD does not necessarily mean an immediate shrinkage, but it indicates that buyers may exhaust and that achieving profits may increase. If the index begins to show a declining cross – as the MACD line crosses the bottom line – it will confirm the direction of weakness, which leads to a decline in prices towards the main support levels.
Market expectations: What is the next price?
The market expectations remain bullish with caution, as technical indicators show strong momentum. BNB is trading higher than the main moving averages, which enhances the upward trend, while the trading volume remains high, indicating the constant investor interest. However, there are still challenges, especially with the mintic peak signals in MACD, causing the gathering losing.
If BNB is broken and more than $ 724 possesses, this may lead to a new wave of purchase, which pays the price about 795 dollars and beyond. On the other hand, rejection at this level is likely to have a short -term decline, with $ 680 and $ 605 as major support areas.
