BNB has demonstrated significant bullish momentum, with a positive candlestick crossing the 100-day Simple Moving Average (SMA) in the 4-hour timeframe. The previous market scenario reveals that the digital currency has faced multiple rejections at the $572 level. This persistent resistance has cleared a path for the bulls to take charge and drive the price higher aiming at the $605 resistance level. As market dynamics shift, the key question is whether BNB can continue its current upward trend and hit the new target of $605. In this article, we will analyze the recent price movements of BNB using technical indicators to determine whether the price can sustain its momentum to reach $605 or decline back to $572. Technical Analysis Indicates Potential Rise To $605 Technical analysis reveals that the price of BNB has successfully crossed above the 100-day Simple Moving Average (SMA) on the 4-hour chart, indicating a potential bullish trend and increased buying momentum. This position indicates that BNB’s price could continue rising as long as it remains above the SMA. On the 4-hour chart, the Relative Strength Index (RSI) ..
Support the originator by clicking the read the rest link below.
