Binance Coin (BNB) price stops its recent decline from its all-time high of $721.8 registered on June 6 and raises more than 2% on Wednesday.
Binance Coin price is nearing the lower end of the upward trendline, a critical support that could lead to a rebound. BNB could find support around $581.9, the 61.8% Fibonacci retracement from the mid-March to June move. A daily candlestick close below $559.6 would invalidate the bullish thesis. Binance Coin price stops its recent decline from its all-time high of $721.8 registered on June 6 and raises more than 4% on Wednesday.
This level aligns with the ascending trendline, which has historically provided support on several occasions, as depicted in the chart below. If this support holds, then BNB could rally 12% from its current trading price of $627to tag $698.9, the lower boundary of its previous daily bearish order block area extending between $698.9 and $710.9 from June 6. A bearish order block is an area where market participants, such as institutional traders, have placed huge sell orders.
Cryptocurrencies Technical Analysis
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
World of Dypians Triumphs in BNB Chain DAU Incentive Program, Secures $60,000 in BNBWorld of Dypians excelled throughout the month-long competition, averaging a remarkable DAU of 102,004.
Read more »
Top Binance Coin (BNB) Price Predictions to Watch Following Latest RallyCrypto Blog
Read more »
Binance Coin (BNB) Price Prediction for June 12Can buyers keep price of Binance Coin (BNB) above $600?
Read more »
Why is BNB price down today?BNB drops alongside the wider crypto market, but it appears that dropping fundamentals back the token’s decline.
Read more »
Price analysis 6/10: SPX, DXY, BTC, ETH, BNB, SOL, XRP, TON, DOGE, ADAThe macroeconomic events on June 12 could provide direction to Bitcoin and altcoins.
Read more »
ADA and BNB Price Prediction for May 27Do Cardano (ADA) or Binance Coin (BNB) have enough strength for upward move?
Read more »