Binance Coin (BNB) is nearing a crucial resistance zone, facing important technical indicators that create barriers for further growth.
Technical Indicators and Resistance at $660
Analysis shows that BNB is encountering resistance at the 200, 100, and 50 day moving averages. Additionally, the 0.382 Fibonacci retracement level, TD Sequential's trendline, and risk line add extra pressure.
BNB Price Patterns: Seller and Buyer Pressure
BNB's price exhibits significant fluctuations, attempting to recover from a sharp decline to $555-$560 levels. The asset has reclaimed above the 50 day moving average at $600, which may indicate a trend shift.
Breakout at $660: New Scenario for BNB Price
Breaking the resistance level at $660 could push BNB into the $680-$700 range. However, if the price remains below, a drop to $570-$550 is possible.
The current situation with BNB requires a careful approach to the $660 level, which may determine the further price movement dynamics.
