Ethereum

Resistance

BNB price is attempting a fresh increase from the $515 zone. The price could gain bullish momentum if it clears the $572 resistance zone. 
<ul> 
 <li>BNB price started a fresh increase after it found support near the $515 zone.</li> 
 <li>The price is now trading below $555 and the 100 simple moving average (4 hours).</li> 
 <li>There was a break above a key bearish trend line with resistance at $540 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 $572 resistance zone.</li> 
</ul> 
<h2 id="bnb-price-faces-hurdles">BNB Price Faces Hurdles</h2> 
After a downside correction below $550, BNB price found support near the $515 zone. A low was formed at $513.6 and the price started a recovery wave, like <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-faces-test-2850/" target="_blank" rel="noopener ">Ethereum</a> and <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-risk-60k/" target="_blank" rel="noopener ">Bitcoin</a>. 
There was a move above the $525 and $530 resistance levels. The bulls pushed the price above the $540 pivot level and the 23.6% Fib retracement level of the downward move from the $630 swing high to the $513 low. There was also a break above a key bearish trend line with resistance at $540 on the 4-hour chart of the BNB/USD pair. 
The price is still trading below $550 and the 100 simple moving average (4 hours). Immediate resistance is near the $555 level. The next resistance sits near the $572 level or the 50% Fib retracement level of the downward move from the $630 swing high to the $513 low. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/04/Binance-Coin-BNB-2.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-603976" src="https://www.newsbtc.com/wp-content/uploads/2024/04/Binance-Coin-BNB-2.png?resize=1024%2C461" alt="BNB Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/04/Binance-Coin-BNB-2.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/04/Binance-Coin-BNB-2.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/04/Binance-Coin-BNB-2.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/04/Binance-Coin-BNB-2.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/04/Binance-Coin-BNB-2.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/04/Binance-Coin-BNB-2.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/04/Binance-Coin-BNB-2.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> 
A clear move above the $572 zone could send the price further higher. In the stated case, BNB price could test $600. A close above the $600 resistance might set the pace for a larger increase toward the $630 resistance. Any more gains might call for a test of the $650 level in the coming days. 
<h2 id="another-decline">Another Decline?</h2> 
If BNB fails to clear the $572 resistance, it could start another decline. Initial support on the downside is near the $532 level. 
The next major support is near the $520 level. The main support sits at $515. If there is a downside break below the $515 support, the price could drop toward the $500 support. Any more losses could initiate a larger decline toward the $465 level. 
Technical Indicators 
4-Hours MACD – The MACD for BNB/USD is losing pace in the bullish zone. 
4-Hours RSI (Relative Strength Index) – The RSI for BNB/USD is currently below the 50 level. 
Major Support Levels – $532, $520, and $515. 
Major Resistance Levels – $555, $572, and $600.

BNB Price May Have Another Chance For A Bullish Streak: Here’s How

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