Reversal

The post <a href="https://coinpedia.org/price-analysis/bnb-price-under-600-finds-reversal-spot-eyes-30-upside/">BNB Price Under $600 Finds Reversal Spot, Eyes 30% Upside</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
With the largest crypto exchange, Binance, losing 7% of its market cap in a day, the BNB token price took a dip. The altcoin lost ground above the psychological mark of $600 and cracked below a critical support trendline.&nbsp; 
With this breakdown, the dynamics in the <a href="https://markets.coinpedia.org/bnb/">Binance price</a> chart shift to the bearish side and warn of a correction. However, the short-term reversal and the underlying demand challenge the shifting dynamics and aim for a bounce back.&nbsp; 
So, Will the Binance token price Cross $635? Check out our <a href="https://coinpedia.org/price-prediction/bnb-binance-coin-price-prediction/">Binance price prediction</a> and determine if BNB will surge higher in 2024.&nbsp; 
<h2 class="wp-block-heading" id="h-binance-eyes-600-breakout">Binance Eyes $600 Breakout</h2> 
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<a href="https://www.tradingview.com/x/lh2kcK6m/">Tradingview</a> 
With a quick reversal from the psychological mark of $550, the BNB price overcomes the supply pressure. The downfall challenged the 200D EMA with a death cross looming over. However, the reversal rally teases a comeback shortly.&nbsp; 
Following the 7% drop, the BNB price showcases a recovery rally within 48 hours, leading to a 4.10% jump. Further, the 4H chart showcases a double-bottom reversal rally, to retest the broken trendline.&nbsp; 
The broken trendline nullifies the ascending trendline, however, the high momentum reversal rally eyes to rechallenge $635. Currently, the Binance price trades at $576.8 with an intraday jump of 1.57%, reflecting a bullish comeback for the altcoin.&nbsp;&nbsp; 
Read Also : <a href="https://coinpedia.org/price-prediction/bnb-binance-coin-price-prediction/">BNB Coin Price Prediction 2024-2025: Will Binance Coin Price Reach $1000 in 2024?</a> 
Technical indicators: 
RSI Indicator: The RSI line reverses from the oversold boundary, teasing a bounce back in the underlying sentiments.&nbsp;&nbsp; 
<h2 class="wp-block-heading" id="h-will-bnb-price-cross-700">Will BNB Price Cross $700?</h2> 
Despite the buyers failing to drive the ascending trendline to completion, the BNB token price shows a comeback. The underlying demand fuels the recovery rally with a double-bottom reversal. Further, the market recovery adds momentum to the altcoin recovery.&nbsp; 
Optimistically, the BNB price could reach the $763 mark, per the trend-based Fibonacci level, if it breaks above $635.&nbsp;However, a correction in the overall market could plunge the altcoin to $500. 
Also Check Out : <a href="https://coinpedia.org/news/top-7-altcoins-eyeing-20-50x-growth-with-potential-binance-listings/">Top 7 Altcoins to Buy for 20–50x Growth Post Binance Listing</a>

BNB Price Under $600 Finds Reversal Spot, Eyes 30% Upside

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