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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/binance-coins-resilience-put-to-the-test-as-it-clings-to-key-support" rel="noopener noreferrer nofollow">Binance Coin’s Resilience Put to the Test as It Clings to Key Support</a><br></p>
<p style="text-align: justify">Binance Coin (<a href="https://en.bitcoinhaber.net/binance-coin-at-risk-of-decline-as-transaction-activity-drops" rel="noopener noreferrer nofollow">BNB</a>), after a notable decline from its peak resistance level, is exhibiting signs of potential recovery. The cryptocurrency has recently dipped to test a crucial support zone, indicating a pivotal moment for its price trajectory. As it trades closely to the 100 simple moving average, the BNB/USD pair’s ability to maintain its footing above this support is critical for initiating a possible uptrend.</p>
<h2 id="rebound-hints-emerge-amid-price-fluctuations">Rebound Hints Emerge Amid Price Fluctuations</h2>
<p style="text-align: justify">Following its descent from a high near $645, BNB found itself in a correction phase, with its value gravitating towards the $500 mark. There, early signs of a rebound have surfaced as the price hovers around $506. Observers have noted the proximity to the simple moving average as a hopeful indicator.</p>
<p style="text-align: justify">A key resistance level lies ahead near $520, represented by a significant downtrend line. If BNB’s price can sustain its current level and avoid a dip below support, the coin may gear up for an ascent.</p>
<h2 id="anticipation-for-a-potential-rally-to-645">Anticipation for a Potential Rally to $645</h2>
<p style="text-align: justify">Analysts have been pondering if BNB could surge past the $550 hurdle, which could signal a more robust performance when compared to major cryptocurrencies like <a href="https://en.bitcoinhaber.net/bitcoin-retreat-sparks-record-800m-in-liquidation" rel="noopener noreferrer nofollow">Bitcoin</a> and <a href="https://en.bitcoinhaber.net/ethereum-breaks-free-from-solanas-shadow-as-exchange-reserves-dip" rel="noopener noreferrer nofollow">Ethereum</a>. A successful breach could launch BNB towards the $580 resistance, setting the stage for a more substantial rally that could retest the $645 level.</p>
<h2 id="the-threat-of-a-continued-downturn">The Threat of a Continued Downturn</h2>
<p style="text-align: justify">However, if BNB struggles to overcome the $520 barrier, the risk of an extended decline looms. The immediate support in such a scenario is near $500, with a stronger safety net at $470. The most critical support at $430 could dictate BNB’s fate; a breakdown here might drive the price down to $400 and potentially ignite a slide towards $350.</p>
<p style="text-align: justify">Technical indicators like the 4-hour MACD and RSI further hint at a bearish trend, suggesting that BNB could face continued selling pressure in the near term.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/binance-coins-resilience-put-to-the-test-as-it-clings-to-key-support" rel="noopener noreferrer nofollow">Binance Coin’s Resilience Put to the Test as It Clings to Key Support</a></h5>

Binance Coin’s Resilience Put to the Test as It Clings to Key Support

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