BNB Resilience: Holding Firm At $560 – What’s Next?

Technical Indicators Point Toward Sustained Uptrend For BNB

To figure out where the BNB price might be headed next, several indicators can be used to examine the chart:

4-Hour MACD: A technical look at the MACD indicator from the 4-hour timeframe, the MACD histograms are trending above the zero line, and both the MACD line and the Signal line have crossed and are heading towards the MACD zero line, indicating a bullish trend. This can be seen in the above image.

RSI 4-hour Timeframe: The formation of the Relative Strength Index (RSI) in the below image also suggests an upward movement as the RSI signal line is seen trending above the 50% level. This indicates that buyers are still very active in the market therefore overpowering the strength of sellers.

Final Thoughts

On the other hand, if the price fails to break above this major resistance, it will reverse and start a downward movement toward its previous support and if it manages to break below this support level, the price might move further downward thereby starting a new downward trend.