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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bnb-coin-shows-signs-of-recovery-after-testing-key-support-level/" data-wpel-link="internal">BNB Coin Shows Signs of Recovery After Testing Key Support Level</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/alarmlar-calmaya-basladi-bu-altcoinde-ayilar-pes-edebilir" data-wpel-link="internal">Binance Coin</a></strong> (<strong><a href="https://en.coin-turk.com/cryptocurrency-tug-of-war-bitcoin-ethereum-binance-coin-and-ripple-current-overview/" data-wpel-link="internal">BNB</a></strong>) has seen some volatility lately, which might have unsettled investors. However, there is still hope in the market. When examining the 4-hour chart for the BNB/USD pair, it’s clear that a significant support level has been tested. Now, holding this support level is crucial for the start of a new upward rally.</p> 
<h2 style="text-align: justify" id="bnb-coin-experiences-a-25-correction">BNB Coin Experiences a 25% Correction</h2> 
<p style="text-align: justify">BNB’s price underwent a downward correction from the $645 resistance area recently. However, with the price testing the important support region around $500, signs of a rebound are being observed. The price, currently trading around $506, is noted to be close to the 100 simple moving average.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-330508 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/bnb-coin-turk-com-.png" alt="" width="1271" height="552"></p> 
<p style="text-align: justify">It’s important to consider the presence of a significant downtrend line near the $520 resistance level. However, if the price remains above the mentioned support level, a new attempt to rise could occur.</p> 
<h2 style="text-align: justify" id="could-the-645-level-be-seen-again">Could the $645 Level Be Seen Again?</h2> 
<p style="text-align: justify">Recent BNB price analyses have discussed the potential for further gains above the $550 resistance area. Once the price surpassed this level, it demonstrated a stronger performance than <strong><a href="https://coin-turk.com/bitcoin-diamond-bcd-nedir-nereden-alinir" data-wpel-link="internal">Bitcoin</a></strong> and <a href="https://coin-turk.com/son-dakika-sec-franklin-templetonun-ethereum-etf-basvurusunu-erteleme-karari-aldi" data-wpel-link="internal">Ethereum</a>, overcoming the $600 resistance.</p> 
<p style="text-align: justify">Currently, there is speculation that the BNB price could test the $580 resistance and that closing above this level could lay the groundwork for a larger rally. In this case, it seems possible for the price to test the $645 level in the coming days.</p> 
<h2 style="text-align: justify" id="when-might-the-downtrend-continue">When Might the Downtrend Continue?</h2> 
<p style="text-align: justify">If BNB fails to surpass the $520 resistance, the downtrend could continue. Looking at the current situation, the first support level in a downward move for BNB is around $500. However, a more pronounced support is positioned near the $470 level.</p> 
<p style="text-align: justify">The truly critical support level is around $430. If a breakdown occurs below this level, it is anticipated that the price could fall towards the $400 support. Moreover, this could trigger a larger downtrend, potentially leading to a decline to the $350 levels.</p> 
<p style="text-align: justify">Technical indicators also support this bearish outlook. The 4-hour MACD for the BNB/USD pair is gaining momentum in the bearish zone. Similarly, the 4-hour RSI (Relative Strength Index) is currently trending below the 50 level, indicating that selling pressure could persist.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bnb-coin-shows-signs-of-recovery-after-testing-key-support-level/" data-wpel-link="internal">BNB Coin Shows Signs of Recovery After Testing Key Support Level</a></h5>

BNB Coin Shows Signs of Recovery After Testing Key Support Level

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