{"id":6460,"date":"2024-12-23T07:27:27","date_gmt":"2024-12-23T06:27:27","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=6460"},"modified":"2024-12-23T07:27:27","modified_gmt":"2024-12-23T06:27:27","slug":"bnb-holds-steady-is-a-bullish-comeback-on-the-horizon","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2024\/12\/23\/bnb-holds-steady-is-a-bullish-comeback-on-the-horizon\/","title":{"rendered":"BNB Holds Steady: Is a Bullish Comeback on the Horizon?"},"content":{"rendered":"<p><\/p>\n<p><em>BNB value is stabilizing above the $620 support area. The value is stabilizing and may seek a new surge beyond the $675 resistance.<\/em><\/p>\n<ul>\n<li>BNB value is having difficulty establishing a position above the $700 pivot area.<\/li>\n<li>The value is presently trading below $680 and the 100-hour simple moving average.<\/li>\n<li>A significant bearish trend line is developing, presenting resistance at $675 on the hourly chart of the BNB\/USD pair (data sourced from Binance).<\/li>\n<li>The pair must remain above the $640 threshold to initiate another rise in the short term.<\/li>\n<\/ul>\n<h2>BNB Value Maintains Support<\/h2>\n<p>Following a downward correction, BNB value located support at $620. It is now recuperating losses similar to <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-red-3200\/\" target=\"_blank\" rel=\"noopener \">Ethereum<\/a> and <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-under-pressure-92k\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a>. There was a surge above the $675 mark before the bears emerged at $695.<\/p>\n<p>A drop occurred below the $680 and $675 marks. The value fell beneath the 50% Fib retracement level from the recovery wave extending from the $619 swing low to the $693 peak. There is also an important bearish trend line forming with resistance at $675 on the hourly chart of the BNB\/USD pair.<\/p>\n<p>The value is currently trading below $675 and the 100-hour simple moving average. Nonetheless, the bulls are becoming active around the 76.4% Fib retracement level from the recovery wave of the $619 swing low to the $693 high.<\/p>\n<p>If a new surge occurs, the value may encounter resistance near the $675 level and the trend line. The subsequent resistance is located around the $692 level. A definitive move beyond the $692 zone could propel the price higher. In that scenario, BNB value could test $705.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/12\/Binance-Coin-BNB-2.png\"><\/a><\/p>\n<p>A closing above the $705 resistance could pave the way for a more significant movement towards the $720 resistance. Additional gains may necessitate a test of the $735 level in the short term.<\/p>\n<h2>Another Decline?<\/h2>\n<p>If BNB does not overcome the $675 resistance, it may begin another drop. Initial support to the downside is around the $640 level. The next significant support is near the $625 level.<\/p>\n<p>The primary support stands at $620. If there is a downward breach under the $620 support, the value may fall towards the $612 support. Further declines could trigger a larger drop toward the $600 level.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD \u2013 The MACD for BNB\/USD is diminishing in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BNB\/USD is currently above the 50 threshold.<\/p>\n<p>Key Support Levels \u2013 $640 and $620.<\/p>\n<p>Key Resistance Levels \u2013 $675 and $692.<\/p>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/bnb\/bnb-steadies-620\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BNB value is stabilizing above the $620 support area. The value is stabilizing and may seek a new surge beyond the $675 resistance. BNB value is having difficulty establishing a position above the $700 pivot area. The value is presently trading below $680 and the 100-hour simple moving average. A significant bearish trend line is<\/p>\n","protected":false},"author":3,"featured_media":6461,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[554],"class_list":{"0":"post-6460","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"tag-gptreturn-a-list-of-comma-separated-tags-from-this-title-bnb-steadies-above-support-will-bullish-momentum-return-gpt"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BNB Holds Steady: Is a Bullish Comeback on the Horizon? - WSJ-Crypto<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wsj-crypto.com\/index.php\/2024\/12\/23\/bnb-holds-steady-is-a-bullish-comeback-on-the-horizon\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BNB Holds Steady: Is a Bullish Comeback on the Horizon? - WSJ-Crypto\" \/>\n<meta property=\"og:description\" content=\"BNB value is stabilizing above the $620 support area. 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