CandleFocus

BNB Price on Track to Stay Above $500 

Author: Content Editor
Despite recent volatility, Binance Coin (BNB) has shown resilience, maintaining a price above $500 since September 11. The analysis suggests that BNB may aim for a higher value in the near term. The MACD indicator and the Chaikin Money Flow (CMF) indicator both support a bullish outlook, indicating that buying pressure is dominant. The formation of a falling wedge, a bullish technical pattern, further suggests that BNB's price could rise higher. The coin is expected to break the resistance at $574.60 and could reach as high as $625 in the short term if the support level at $517.50 is defended. However, if BNB fails to break above the resistance, it may drop below the $517.50 support.

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