BNB Price failed to surpass the $480 to $485 range in the past few days and at some point reached $425. Yesterday, it was ranging in the $455 to $475 zone. However, by finding support at $455, BNB started a new uptrend and managed to go above the SMA100 at $470. It failed to surpass the $475 and as of now it stands at around $471.

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BNB Price Action Analysis

Taking a look at the 1-hour chart, we can see BNB facing a strong resistance at the $480 to $485 zone. It was pushed that at that level and dipped all the way down to $425. But the price managed to reach back to $470. Today, BNB failed to break through the $475 barrier.

Currently, the SMA100 at $470 is supporting BNB price and in case it continues to do so, we can expect BNB to retest surpassing $475. For that scenario, the $480 to $485 followed by $490 and $500 are the next resistance levels for the price.

On the other hand, if BNB price fails to surpass $475 and lose the $470, we should expect further decline.

For the bearish scenario, the $465, $460 and $455 are the crucial support levels for BNB. In case of dipping below these levels, the price could fall as low as $440 and $430.

The Technical Indicators

MACD indicator: at the time of writing this article the 1-hour MACD indicator for BNB is on an upward movement.

RSI: the relative strength index is approximately 58.

Resistance levels: BNB`s first resistance level is at $475. Following that, the next ones will be at $480 to $485 zone and then $490 and $500 will follow.

Support levels: the first support level is at $470. Then the $465 to $460 zone and following that the $440 to $430 will follow.


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