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BNB She wore the level of decisive support of $ 500, which sparked speculation about whether this represents the beginning of the upscale recovery or temporary relief before another contraction. After facing continuous sale pressure, buyers enter the defense restoration. However, with the continued levels of resistance waving on the horizon, the true power of this apostasy remains unconfirmed.
Market morale is still unconfirmed as the bulls try to restore control while the bears remain cautious. The next step for BNB depends on breaking the key resistance levels and maintaining higher prices. Successful Go out It can confirm an upward continuation, while dull momentum may lead to another rejection and re -test Support Regions.
Technical indicators such as RSI and animation will play a decisive role in determining the next step. Bulls may have the upper hand if RSI trends up and restore main levels. On the other hand, if there is a declining appearance, it is not possible to ignore the possibility of more from the negative side.
Purchase pressure analysis on price
Currently, BNB offers strong upward movements as it moves towards the resistance level of $ 605. The currency was climbing steadily, indicating that buyers were preparing to control and pay its price up. This step comes after a successful recovery Of the main support level of $ 500, which raised renewed optimism among merchants.
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Despite the continuous upward budget, the price position is under 100 days sma Signs that BNB are not fully regained from a strong positive direction in the long run. It can also indicate that there is still some pressure pressure from the bears that may prevent the price from maintaining a fixed height.
If BNB continues to trade without this main moving average, it may find it difficult to maintain the current Optimistic momentum. The longer the SMA period, the higher the risk of reflection or monotheism.
In addition, the RSI Index (Relative Power Index) remains in the extra sales area, and no immediate signs appear to return towards the neutral area or in the peak area. Usually reading the indicators of the regional conferences less than 30 % that the original has been sold, and there may be more negative capabilities or need Correct price.
However, the RSI failure to get out of the sale area indicates that the market is still under pressure, with a declining pressure may exceed bullish pressure. In order for the bulls to control and pay the BNB higher, RSI will need to return gradually to a range of 30-50 %, which leads to a more balanced shift market conditions.
Is BNB ready to break or go to another decline?
In conclusion, the current bullish BNB movement is an encouraging sign of bulls, but the real test lies at the resistance level of $ 605. If the bulls succeed in paying the price higher than this level, a stronger crowd may follow it, which leads to the test of the other cryptocurrency resistance Levels like $ 680 and $ 724.
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However, the failure to scan the region 605 dollars may lead to a stage of unification or possible Retreat To support levels $ 531 and $ 500. Merchants You will need to closely monitor the market conditions and technical indicators to measure whether the current upward feelings can be preserved.
Distinctive photo of Shutterstock, Chart from TradingView.com
