Last week saw BNB through another downturn after rejecting the $640 level during March's recovery. This caused a small panic as it shed loss, and the price slipped to a low of $587 yesterday.
The price of BNB, a major cryptocurrency and the native token of Binance, has seen fewer drops than a few altcoins in the past week and remained well above the $600 level following a slight recovery.
After rejecting the $640 level during March’s recovery, saw BNB through another downturn last week. This caused a small panic as it shed
Reacting well to the drops, the price was sharply rejected as a result of bullish interception, and the price increased above the key $600 level.
Currently, the price is slightly up as it shows signs of strength while taking a breath. A push back above the mentioned key level could trigger a new leg up to $700 and even above. Although, the buying volume is not enough at the time of writing.
Looking at the daily chart, BNB is still trading far well above the $500 level that stood as support during last month’s crash. If, by any chance, the bears resume pressure, we can expect more bleeding in the next few days. Right now, trading looks calm with a lot of conflicting signals.
Should the buying volume increase, we can anticipate another major buy until the price recovers fully to the
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