Binance Coin Price Collapses And Oscillates Above $590

By: bitcoin ethereum news|2025/05/02 17:45:02
0
Share
copy
The BNB price has bounced above the moving average lines after failing to break above resistance at $620. BNB price long-term forecast: bullish Last week, the digital asset traded above the 50-day SMA and below the $620 resistance. BNB has yet to resume its move as traders are still uncertain about the direction of the market. BNB price remains above the 50-day SMA and is rising today. The uptrend will attempt to break or retest the $620 resistance level. The altcoin will rise to a high of $645 if it breaks above the $620 high. However, the uptrend is just above the 50-day SMA. Should the bears break the 50-day SMA support, BNB will drop to the $580 floor. At the time of writing, BNB is trading at $603. BNB price indicator reading BNB has been trading above the moving average lines since April 23. Those who have defended the 50-day SMA support are now buyers. The long candle tails below the lines indicate strong buying pressure above the moving average. The moving average lines have remained horizontal. Technical indicators: Key Resistance Levels – $600, $650, $700 Key Support Levels – $400, $350, $300 What’s next for BNB/USD? BNB remains above the $600 support and is trading in the uptrend zone. The altcoin is in a sideways movement on the 4-hour chart, above the $590 support and below the $620 barrier. The moving average lines are currently hindering the uptrend and the cryptocurrency price is oscillating above and below them. Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds. Source: https://coinidol.com/bnb-price-oscillates-above/

-- Price

--

You may also like

Morning News | SK Hynix officially launches the marketing promotion process for its U.S. stock listing; the Central Cyberspace Administration announces the results of the first phase of rectifying AI application chaos, with over 14,000 non-compliant pr...

July 6 Market Important Events Overview

Can Open USD support Stripe's ambitions?

Stripe collaborates with multiple parties to launch OUSD, not only challenging the dominance of USDC but also exposing its trillion-dollar ambition to transition from a "payment interface" to a "next-generation funds settlement network."

Blockchain Capital Partner: AI is rewriting the fundamental unit of labor

The rise of AI is rewriting the basic unit of labor from "positions" and "companies" to "tasks." When programmable labor meets programmable currency, a production line without companies, salary systems, or HR becomes possible for the first time.

The cryptocurrency industry has become a traditional industry

For entrepreneurs and retail investors still in this industry, they should either embrace the current changes or explore the next unpredictable field in cryptocurrency.

Chip frenzy cooling down? Morgan Stanley's Wilson: Funds are shifting towards AI supercomputing giants like Microsoft and Amazon

Morgan Stanley's chief equity strategist Wilson pointed out that the momentum in the semiconductor sector is waning, with the Philadelphia Semiconductor Index having dropped nearly 14% from its peak. Funds are shifting towards AI supercomputing giants like Microsoft, Amazon, and Meta, as well as sec...

Morning Report | Vitalik outlines Ethereum's long-term roadmap, Lean Ethereum will become the third major iteration; SK Hynix seeks to attract more AI investors by listing in the U.S

July 5 Market Important Events Overview

Contents

Popular coins

Latest Crypto News

Read more
iconiconiconiconiconiconicon
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com