BNB is continuing its stable accumulation around the level of $600 after forming a short term bottom at $598. Technical signals indicate the possibility of a rebound if the price holds the current support zone.
The BNB price is stabilizing at $600
After establishing a strong底 zone around $592, the price of BNB has increased again, along with the recovery of Ethereum and Bitcoin surpassing the resistance levels of $595 and $600. The uptrend has helped BNB break through the threshold of $605, reaching a short term high at $611 before a slight adjustment back.
Currently, the price is fluctuating around $602, above the 100-hour moving average (SMA 100). The BNB/USD hourly chart also shows a clear upward channel with strong support at $600.
Important Resistance and Support Levels
The nearest resistance is in the range of $606 – $610, corresponding to the 61.8% Fibonacci level of the correction from $611 to $598. If BNB decisively breaks through the $610 level, the price may continue to rise towards $620. Closing a candle above $620 could trigger a stronger rally, bringing the price back to the $635 zone, and it may even test the psychological level of $650.
Discount Scenario
If it cannot break through the resistance zone of $610, BNB may face selling pressure again. The initial support is at $600, followed by $598 – where the price previously formed a bottom. The next strong support zone is $592 – if broken, the price could drop deeper to $585, or even $580.
Technical Indicator
Hourly MACD: Increasing in the positive zone, providing a positive signal. Hourly RSI: Above 50, indicating that the upward momentum is being maintained.
Summary
BNB is showing positive signals as the price holds steady above $600 and the 100-hour SMA. As long as the support zone of $598–$600 is protected, there is a high chance that the price will soon retest the resistance zone of $610 and may break out to higher price zones such as $620 and $635. However, if it loses the level of $592, the downtrend may resume.
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