Ethereum

Resistance

BNB price is attempting a fresh increase from the $575 zone. The price is up over 5% and the bulls seem to be aiming for a move above $620. 
<ul> 
 <li>BNB price started a fresh increase after it found support near the $575 zone.</li> 
 <li>The price is now trading above $600 and the 100 simple moving average (4 hours).</li> 
 <li>There is a key bullish trend line forming with support at $587 on the 4-hour chart of the BNB/USD pair (data source from Binance).</li> 
 <li>The pair could gain bullish momentum if it clears the $620 resistance zone.</li> 
</ul> 
<h2 id="bnb-price-could-surge-15">BNB Price Could Surge 15%</h2> 
After a downside correction below $600, BNB price found support near the $575 zone. A low was formed at $572.8 and the price started a fresh increase, unlike <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-bullish-pattern-3600/" target="_blank" rel="noopener ">Ethereum</a> and <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-attractive-70k/" target="_blank" rel="noopener ">Bitcoin</a>. 
There was a move above the $595 and $600 resistance levels. The bulls pushed the price above the $605 pivot level. It is up over 5% and showing many positive signs above the 23.6% Fib retracement level of the recent increase from the $572.8 swing low to the $618.0 high. 
The price is now trading above $600 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support at $587 on the 4-hour chart of the BNB/USD pair. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/04/Binance-Coin-BNB-1.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-602618" src="https://www.newsbtc.com/wp-content/uploads/2024/04/Binance-Coin-BNB-1.png?resize=1024%2C461" alt="BNB Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/04/Binance-Coin-BNB-1.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/04/Binance-Coin-BNB-1.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/04/Binance-Coin-BNB-1.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/04/Binance-Coin-BNB-1.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/04/Binance-Coin-BNB-1.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/04/Binance-Coin-BNB-1.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/04/Binance-Coin-BNB-1.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/BNBUSD/" target="_blank" rel="noopener nofollow">BNBUSD on TradingView.com</a> 
Immediate resistance is near the $618 level. The next resistance sits near the $620 level. A clear move above the $620 zone could send the price further higher. In the stated case, BNB price could test $632. A close above the $632 resistance might set the pace for a larger increase toward the $650 resistance. Any more gains might call for a test of the $700 level in the coming days. 
<h2 id="another-decline">Another Decline?</h2> 
If BNB fails to clear the $620 resistance, it could start a downside correction. Initial support on the downside is near the $600 level. 
The next major support is near the $590 level and the trend line or the 61.8% Fib retracement level of the recent increase from the $572.8 swing low to the $618.0 high. The main support sits at $575. If there is a downside break below the $575 support, the price could drop toward the $562 support. Any more losses could initiate a larger decline toward the $550 level. 
Technical Indicators 
4-Hours MACD – The MACD for BNB/USD is gaining pace in the bullish zone. 
4-Hours RSI (Relative Strength Index) – The RSI for BNB/USD is currently above the 50 level. 
Major Support Levels – $600, $585, and $575. 
Major Resistance Levels – $620, $632, and $650.

BNB Price Regains Strength As The Bulls Aim For $650

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