BNB’s price is experiencing consolidation after hitting resistance at $665. It is currently trading below $640 and the 100-hourly moving average, with a key support level at $620. The price needs to maintain above $600 for upward momentum. Major resistance levels are at $638, $650, and $665. BNB has shown stability in recent trading sessions, maintaining support above the $620 level despite market fluctuations.
A bullish trend line provides support near $620. The $600 support level is crucial for maintaining bullish momentum. BNB is currently consolidating near the 23.6% Fibonacci retracement level. Potential resistance levels include $626 and $638. Trading volume is balanced, with no dominant side, contributing to the consolidation phase.
A break above $638 could lead to a rally with next targets at $650 and $665. BNB has maintained higher lows despite the correction, indicating underlying strength in the market. Support at $620 has been defended multiple times, showing strong market interest. The $626 level is an immediate resistance point for short-term traders.
Multiple support levels are in place below current prices, providing a safety net for downside movements. Trading indicators are neutral, leaving room for movement in either direction. Healthy trading activity supports current price levels. BNB is trading at $622, maintaining position above key support levels while awaiting clearer directional signals.
