BNB Market Analysis: Rebound or Not?

Recently, BNB has attracted attention, and its key trend is whether it will rebound or continue to decline.

Currently, BNB is stabilizing at $620, having previously encountered resistance at $675, first pulling back then facing downward pressure, and now touching $675 again but still facing resistance. However, there is some activity from the bulls at the 76.4% retracement level.

If it moves upward, $675 and the trend line will be resistance. If it breaks through, $692 will pose another obstacle, and only then can it aim for $705. A close above that could target $720, with a short-term aim of $735.

If it cannot break through $675, it may initiate a downward trend. Initial support is at $640, followed by $625, and the key level is $620. If it breaks below, it could drop to $612, and possibly down to $600.

In terms of technical indicators, the hourly MACD shows a bearish zone with weakening momentum, and the hourly RSI is slightly above 50, indicating a neutral to bullish sentiment. Current major support levels are $640 and $620, while major resistance levels are $675 and $692, which investors should pay attention to.

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