“BNB Price Hits $580 Barrier, Rises Despite Challenges”

On October 9, 2024, the price of BNB (BNB) experienced a correction higher after breaking above the moving average lines and then being stopped by the 21-day SMA. Over the past three days, BNB has been trading within the moving average lines while maintaining stability above the $550 support level. This information was reported by Coinidol.com. The long-term price prediction for BNB is currently bullish, with the price movement expected to be determined by whether the moving average lines are broken. If the bulls manage to surpass the 21-day SMA resistance line, BNB could see a rise towards the next barrier at $600. However, if the price falls below the 50-day SMA support, the altcoin may lose value and drop back to previous lows above $540 and $500. Currently, BNB is valued at $574. BNB is currently trading between the moving average lines on the 4-hour chart, following a recent upward correction. The cryptocurrency is likely to remain within its current range over the next few days, with the price showing an uptrend while staying above the moving average lines, but halting at the $580 mark. In terms of technical indicators, the resistance levels for BNB are at $600, $650, and $700, while the support levels are at $400 and $350. The next direction for BNB/USD will depend on whether the altcoin breaks the current constriction between the 50-day