$BNB price analysis....🚀🚀🚀

$576

has been range-bound between $495 and $635 for the past few days, indicating a balance between supply and demand.

#BNB/USDT daily chart. Buyers pushed the price above the moving averages on April 20, indicating that the selling pressure is reducing. The BNB/USDT pair could move toward the overhead resistance of $635, where the bears are likely to sell aggressively. If the price turns down sharply from $635, the range-bound action may continue for a while longer.

The next trending move is likely to begin on a break above $635 or below $495. If the $635 level is taken out, the pair may start its journey toward $692. On the downside, a slide below $495 could sink the pair to $460.

BNB/USDT 4-hour chart. The 20-EMA has started to turn up on the 4-hour chart, and the RSI is in the positive territory, indicating that bulls are attempting a comeback. There is a minor resistance at $585, but if this level is crossed, the pair may reach $600 and then $635. The bears are likely to mount a strong defense near $635.

The positive view will be invalidated in the near term if the price turns down and breaks below the moving averages. The pair may then slump to $540 and later to $510.

#bitcoinhalving #BNB⁩ #BNBUSDT