BNB Faces $606 Resistance as Bullish Momentum Tests Key Levels

Coin WorldThursday, Mar 6, 2025 10:58 am ET

1min read

On March 6, 2025, BNB demonstrated a notable surge, leading to overbought conditions as indicated by the Relative Strength Index (RSI) at 8:30 UTC and 9:30 UTC. However, this upward momentum encountered resistance at the $606.06 level. The price had previously recovered from the $550 support zone and risen above the $585 resistance zone, but it remained below $595 and the 100-hourly simple moving average.

There was a connecting bullish trend line forming with support at $600 on the hourly chart of the BNB/USD pair. This trend line suggested that the price needed to stay above the $588 level to initiate another increase in the near term. The price had already moved above the $565 and $570 resistance levels, recovering above the $588 level and outperforming both Ethereum and Bitcoin.

Technical indicators showed that the MACD for BNB/USD was gaining pace in the bullish zone, while the RSI for BNB/USD was above the 50 level. Major support levels were identified at $600 and $595, with major resistance levels at $606 and $616. If BNB were to break through the $606 resistance, the next target would be near $616, with potential for testing the $635 mark. However, if BNB failed to clear the $606 resistance, it could start another decline, with initial support on the downside near the $600 level.

The next major support was near the $595 level, with the main support sitting at $588. A downside break below the $588 support could see the price drop toward the $570 support, with any further losses potentially initiating a larger decline toward the $565 level. The technical indicators suggested that the price was in a bullish zone, but the resistance at $606 posed a significant challenge for the bulls.

BNB has shown steady growth after a period of fluctuations, gaining bullish momentum. The latest BNB price analysis suggests that BNB is moving in an upward trend, testing key resistance levels. However, the BNB price today struggles to sustain its gains, creating uncertainty in

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