BNB terms is recovering higher from the $500 enactment zone. The terms is present showing affirmative signs and mightiness purpose for much upsides supra $535.

• BNB terms started a betterment question from the $500 enactment zone.
• The terms is present trading supra $515 and the 100-hourly elemental moving average.
• There is simply a cardinal rising transmission forming with absorption astatine $528 connected the hourly illustration of the BNB/USD brace (data root from Binance).
• The brace could summation bullish momentum if it clears the $535-$538 absorption zone.

BNB Price Eyes More Upsides

After forming a basal supra the $500 level, BNB terms started a decent upward determination similar Ethereum and Bitcoin. The terms cleared the $510 and $515 absorption levels to determination into a short-term bullish zone.

The terms surpassed the 50% Fib retracement level of the downward determination from the $5376 plaything precocious to the $499 low. It adjacent cleared the $520 resistance. The terms is present trading supra $515 and the 100-hourly elemental moving average.

It is present consolidating adjacent the 61% Fib retracement level of the downward determination from the $5376 plaything precocious to the $499 low. On the upside, the terms could look absorption adjacent the $528 level. There is besides a cardinal rising transmission forming with absorption astatine $528 connected the hourly illustration of the BNB/USD pair.

The adjacent absorption sits adjacent the $535 level. A wide determination supra the $535 portion could nonstop the terms higher. In the stated case, BNB terms could trial $550. A adjacent supra the $550 absorption mightiness acceptable the gait for a larger summation toward the $565 resistance. Any much gains mightiness telephone for a trial of the $580 level successful the adjacent term.

Another Decline?

If BNB fails to wide the $535 resistance, it could commencement different decline. Initial enactment connected the downside is adjacent the $520 level. The adjacent large enactment is adjacent the $518 level.

The main enactment sits astatine $508. If determination is simply a downside interruption beneath the $508 support, the terms could driblet toward the $500 support. Any much losses could initiate a larger diminution toward the $480 level.

Technical Indicators

Hourly MACD – The MACD for BNB/USD is gaining gait successful the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BNB/USD is presently supra the 50 level.

Major Support Levels – $518 and $508.

Major Resistance Levels – $528 and $535.