BNB Price Eyes Another Leap: Is a Fresh Surge Incoming?

Dec 6, 2024 06:00 am Cryptocurrency 127

BNB price is consolidating near the $725 zone. The price is showing positive signs and might aim for a move above the $740 resistance.

BNB price started a downside correction from the $800 resistance zone.

The price is now trading above $700 and the 100-hourly simple moving average.

There is a key bearish trend line forming with resistance at $725 on the hourly chart of the BNB/USD pair (data source from Binance).

The pair must stay above the $715 level to start another increase in the near term.

BNB Price Holds Support

After a close above the $700 level, BNB price extended its increase, like Ethereum and Bitcoin. The bulls were able to pump the price above the $720 and $750 resistance levels.

Finally, the price tested the $800 zone. A high was formed at $794 before there was a downside ..

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