{"id":3666,"date":"2025-04-02T17:00:35","date_gmt":"2025-04-02T17:00:35","guid":{"rendered":"https:\/\/coinstrend.net\/blog\/bnb-price-faces-more-downside-can-bulls-step-in\/"},"modified":"2025-04-02T17:00:35","modified_gmt":"2025-04-02T17:00:35","slug":"bnb-price-faces-more-downside-can-bulls-step-in","status":"publish","type":"post","link":"https:\/\/coinstrend.net\/blog\/bnb-price-faces-more-downside-can-bulls-step-in\/","title":{"rendered":"BNB Price Faces More Downside\u2014Can Bulls Step In?"},"content":{"rendered":"<p><em>BNB price is recovering from the $588 support zone. The price is now correcting gains and might struggle to stay above the $600 support.<\/em><\/p>\n<ul>\n<li>BNB price is attempting to recover above the $600 resistance zone.<\/li>\n<li>The price is now trading below $610 and the 100-hourly simple moving average.<\/li>\n<li>There is a short-term declining channel forming with resistance at $610 on the hourly chart of the BNB\/USD pair (data source from Binance).<\/li>\n<li>The pair must stay above the $600 level to start another increase in the near term.<\/li>\n<\/ul>\n<h2>BNB Price Faces Resistance<\/h2>\n<p>After forming a base above the $588 level, BNB price started a fresh increase. There was a move above the $600 and $610 resistance levels. It even recovered above the $615 level before the bears appeared, like Ethereum and Bitcoin.<\/p>\n<p>A high was formed at $618 and the price is now correcting gains. There was a move below the $615 level. The price dipped below the 50% Fib retracement level of the upward move from the $587 swing low to the $618 high.<\/p>\n<p>There is also a short-term declining channel forming with resistance at $610 on the hourly chart of the BNB\/USD pair. The price is now trading below $610 and the 100-hourly simple moving average. On the upside, the price could face resistance near the $610 level.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"size-full wp-image-722514\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/04\/Binance-Coin-BNB.png?resize=1024%2C478\" alt=\"BNB Price\" width=\"1024\" height=\"478\" \/><\/p>\n<p>The next resistance sits near the $612 level. A clear move above the $612 zone could send the price higher. In the stated case, BNB price could test $618. A close above the $620 resistance might set the pace for a larger move toward the $626 resistance. Any more gains might call for a test of the $635 level in the near term.<\/p>\n<h2>Another Decline?<\/h2>\n<p>If BNB fails to clear the $610 resistance, it could start another decline. Initial support on the downside is near the $600 level. The next major support is near the $598 level and the 61.8% Fib retracement level of the upward move from the $587 swing low to the $618 high.<\/p>\n<p>The main support sits at $594. If there is a downside break below the $594 support, the price could drop toward the $585 support. Any more losses could initiate a larger decline toward the $565 level.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD \u2013 The MACD for BNB\/USD is gaining pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BNB\/USD is currently below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $600 and $598.<\/p>\n<p>Major Resistance Levels \u2013 $610 and $618.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BNB price is recovering from the $588 support zone. The price is now correcting gains and might struggle to stay above the $600 support. BNB price is attempting to recover above the $600 resistance zone. The price is now trading below $610 and the 100-hourly simple moving average. There is a short-term declining channel forming&hellip;<\/p>\n","protected":false},"author":1,"featured_media":3667,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[250],"tags":[566,251,567,568,253,254],"class_list":["post-3666","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bnb","tag-binance-coin","tag-bnb","tag-bnb-price","tag-bnbbtc","tag-bnbusd","tag-bnbusdt"],"_links":{"self":[{"href":"https:\/\/coinstrend.net\/blog\/wp-json\/wp\/v2\/posts\/3666","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinstrend.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinstrend.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinstrend.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinstrend.net\/blog\/wp-json\/wp\/v2\/comments?post=3666"}],"version-history":[{"count":0,"href":"https:\/\/coinstrend.net\/blog\/wp-json\/wp\/v2\/posts\/3666\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinstrend.net\/blog\/wp-json\/wp\/v2\/media\/3667"}],"wp:attachment":[{"href":"https:\/\/coinstrend.net\/blog\/wp-json\/wp\/v2\/media?parent=3666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinstrend.net\/blog\/wp-json\/wp\/v2\/categories?post=3666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinstrend.net\/blog\/wp-json\/wp\/v2\/tags?post=3666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}