BNB Price failed to surpass the $480 to $485 range in the past few days and at some point reached $425. Yesterday, it was ranging in the $455 to $475 zone. However, by finding support at $455, BNB started a new uptrend and managed to go above the SMA100 at $470. It failed to surpass the $475 and as of now it stands at around $471.
You can learn how to exchange BNB to PayPal with our full guide.
BNB Price Action Analysis
Taking a look at the 1-hour chart, we can see BNB facing a strong resistance at the $480 to $485 zone. It was pushed that at that level and dipped all the way down to $425. But the price managed to reach back to $470. Today, BNB failed to break through the $475 barrier.
Currently, the SMA100 at $470 is supporting BNB price and in case it continues to do so, we can expect BNB to retest surpassing $475. For that scenario, the $480 to $485 followed by $490 and $500 are the next resistance levels for the price.
On the other hand, if BNB price fails to surpass $475 and lose the $470, we should expect further decline.
For the bearish scenario, the $465, $460 and $455 are the crucial support levels for BNB. In case of dipping below these levels, the price could fall as low as $440 and $430.
The Technical Indicators
MACD indicator: at the time of writing this article the 1-hour MACD indicator for BNB is on an upward movement.
RSI: the relative strength index is approximately 58.
Resistance levels: BNB`s first resistance level is at $475. Following that, the next ones will be at $480 to $485 zone and then $490 and $500 will follow.
Support levels: the first support level is at $470. Then the $465 to $460 zone and following that the $440 to $430 will follow.
HiExchange
HiExchange is a decentralized online platform to exchange your cryptocurrencies and e-currencies. We utilize an automated system to determine the best exchange rates at any moment. Furthermore, HiExchange does not require KYC or a sign-up process. Backed by 24/7 customer support, our great reviews on OkChanger and Trustpilot is a testament of our good will. We are listed on Bestchange and are always amongst the top exchanges.
To learn how to exchange your cryptocurrencies to PayPal you can read our instructional article.
For more instructional content, you can always visit HiExchange Blog
