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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Price Pressure Builds: Can BNB Punch Through The Ceiling Or Will 640 Catch The Fall?

Godspower Owie
Godspower Owie
1 month ago
3 mins read
BNB

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BNB finds itself at a pivotal moment as price action tightens between two critical technical zones. After a period of consolidation, the cryptocurrency is testing resistance near the 200-period moving average, hovering around the $653 mark. Meanwhile, support around the $640 level continues to hold firm, acting as a safety net for bulls trying to defend the current structure.

200 MA Acts As A Ceiling Against BNB Uptrend

According to Thomas Anderson in a recent X post, the M15 BNB chart reveals that the price is currently testing resistance around the $651.50 level, marked by a horizontal yellow line.

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This move follows a recent bounce off the ascending white trendline support, indicating that buyers are still defending the short-term uptrend. However, price action remains just beneath the 200-period moving average (red line), which is acting as a dynamic resistance zone near the $653 mark.

BNB
BNB eye breakout from ascending channel | Source: Thomas Anderson on X

Momentum indicators are offering mixed signals at the moment. The MACD continues to print negative values, showing that bearish pressure hasn’t fully dissipated, while the RSI has started recovering from previously oversold conditions. This combination suggests the potential for a short-term bounce within the ascending channel.

M30 And H1 Charts Are Aligning

In an updated post, the analyst also went further to examine the BNB M30 chart, where price is currently trading at $650.10 and appears to be consolidating just below the 200-period moving average (red line) situated around the $653 level. This area is acting as a key short-term resistance zone, and price action has shown hesitation around it, reflecting a battle between buyers and sellers. Interestingly, the H1 chart mirrors this behavior, showing a broader ascending channel structure that suggests an underlying bullish bias, though still unconfirmed.

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BNB Price Reclaims $600 — Is This the Start of a Major Upside Move?

3 months ago

The immediate resistance to watch remains near the $653 mark, aligned with the 200 MA on both the M30 and H1 timeframes. If bulls can muster enough strength to break and sustain above this level, it could trigger a fresh wave of upward momentum for BNB toward the next resistance at $657. This would represent a potential continuation of the ascending channel’s structure and hint at growing bullish control in the short term.

On the flip side, if price fails to push above the $653 resistance, consolidation may begin to lose steam. In such a scenario, a retreat toward the previous swing low near the $640 level becomes likely. This support area has already proven its strength and could be the next level of defense if bearish pressure increases. Traders are watching closely, as these levels may determine BNB’s next directional move.

BNB
BNB trading at $650 on the 1D chart | Source: BNBUSDT on Tradingview.com
Featured image from Adobe Stock, chart from Tradingview.com
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Godspower Owie
Godspower Owie

Godspower Owie

My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.

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My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.

I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.

When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.

Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.

My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.

Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is.

One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others.

I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams.

I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top.

I aspire to be a boss someday, having people work under me just as I’ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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