BNB Price Struggles to Hold $500: Is a Breakout Coming?

Sep 5, 2024 06:00 am Cryptocurrency 92

BNB price is struggling to stay above the $500 support zone. The price could gain bearish momentum if there is a close below the $500 support.

BNB price started a fresh decline from the $540 resistance zone.

The price is now trading below $520 and the 100-hourly simple moving average.

There is a short-term rising channel forming with support at $500 on the hourly chart of the BNB/USD pair (data source from Binance).

The pair could gain bearish momentum if it settles below the $500 support zone.

BNB Price Dips Again

After struggling to test the $540 resistance, BNB price started a fresh decline like Ethereum and Bitcoin. The price declined below the $532 and $520 support levels. There was also a move below $510.

Finally, the price found support at $495. A low was formed at $496 and the price is now ..

Support the originator by clicking the read the rest link below.