BNB Price Finds Footing After Clearing $605 Resistance Toward Higher Targets
18 Março 2025 - 1:30PM
NEWSBTC
BNB has once again demonstrated its resilience and strength by
breaking through the crucial $605 resistance level. This milestone,
achieved after weeks of testing and consolidation, has sparked
renewed interest among traders and investors. Following the
breakout, BNB has entered a phase of price stabilization,
comfortably holding above the $605 mark and transforming it into a
robust support zone. This consolidation phase is a classic sign of
a healthy market, as it allows the asset to catch its breath after
a significant upward move. It also suggests that the breakout was
backed by genuine buying pressure rather than short-term
speculation. With the $605 level now acting as a springboard, the
stage is set for BNB to target higher price levels in the coming
days or weeks. BNB Price Action: Stability Above $605 Signals
Strength BNB’s ability to hold above the $605 resistance level
after breaking through reflects growing bullish momentum. Its
stability indicates that buyers are defending the breakout level,
reinforcing its significance as a new support zone. Sustained
trading above this level could pave the way for further gains
toward targets near $630 and $650. Related Reading: BNB Ready To
Breakout? New ATH Coming ‘In No Time’ If This Resistance Breaks
Technical indicators reinforce the strength of BNB’s breakout,
signaling that bullish momentum remains intact. The MACD continues
to trend in positive territory, with the MACD line staying above
the signal line. This positioning suggests that buying pressure
remains dominant, and the possibility of further gains remains
strong. Additionally, the histogram bars are expanding, reflecting
increasing bullish momentum. Furthermore, the 100-day Simple Moving
Average (SMA) acts as dynamic support, with BNB trading above it,
which implies that the broader trend remains bullish, and any dips
toward this level could present buying opportunities. If BNB
maintains its momentum, it could target $680, strengthening its
bullish outlook. A breakout above the level may attract more
buyers, increasing the chances of a sustained rally. Presently, the
$680 serves as a key resistance, and clearing it with strong volume
is likely to spark a move to $724 in the medium term. Support Zones
To Watch In Case Of A Pullback If BNB experiences a pullback, the
$605 level will be the first key support to watch, as it has
flipped from resistance to support. Holding this level could
reinforce bullish momentum and signal that buyers are defending the
breakout. Related Reading: Binance Coin Critical Test: Will
BNB Hold Or Plunge To $214? However, if selling pressure increases
and $605 fails to hold, the $531 demand zone comes into play, which
has historically provided strong support. A rebound from this level
would indicate buyer strength, but a break below will expose BNB to
more downside before another bullish attempt. An extended
correction could bring $500 into focus, which aligns with the
100-day SMA and has previously served as a significant pivot point
for price rebounds. Featured image from Adobe Stock, chart from
Tradingview.com
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