CandleFocus BNB Holds Steady Above $600, Faces Challenges to Reclaim All-Time High
2024-11-21
Author: Content Editor
The price of Binance Coin (BNB) has remained stable above $600 but has struggled to reach new highs near $700. The volatility of the coin has decreased recently, making it harder for BNB to break above the $600 mark. Open Interest in BNB has also declined, indicating reduced liquidity and market momentum. BNB has repeatedly faced resistance around $612 since July, showing bearish efforts to prevent it from reaching its all-time high of $724. If BNB fails to break through the resistance, it could potentially retrace to $551. However, if there is a surge in volatility and strong buying pressure, BNB could surpass the resistance and climb towards $660 or even retest the all-time high.
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