CandleFocus Binance Coin Breaks Through The $720 Barrier But Uses It As Support
2024-12-07
Author: Content Editor
The price of BNB, the native token of Binance Chain, has surged above the $724 resistance level. It reached a high of $794 but couldn't break past the $800 mark. The cryptocurrency fell but bounced back above the $720 breakout level and is currently trading above the moving average lines. The positive trend will continue if the $720 support level holds, but if it breaks, BNB could return to its previous range. On the 4-hour chart, BNB is in a downtrend above the moving average lines, and if it falls below the 21-day SMA, the decline will continue. However, if it stays above the moving average lines, the upward movement will resume and BNB could reach its previous high of $800 again.
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