CandleFocus BNB Price Rises Again, But Faces $580 Barrier
2024-10-09
Author: Content Editor
The price of BNB (BNB) has seen a correction upwards but was halted by the 21-day SMA resistance line. It has remained stable above the $550 support for the past three days. The future movement of BNB will depend on whether the moving average lines are broken. If the bulls break through the 21-day SMA resistance line, BNB will rise to the next barrier at $600. However, if the price falls below the 50-day SMA support, BNB will lose value and fall back to previous lows. BNB is currently trading between the moving average lines and is likely to stay within its range over the next few days. The altcoin is currently between the 50-day SMA support and the 21-day SMA resistance. The sideways trend will begin when the price breaks the current range.
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