Judging by the current performance of the crypto market, most cryptocurrencies during this week’s market opening made an average jump of over 15% after making a drastic decline during last week’s trading movements.
Still, investors are still puzzled as to whether the falling price trend is over or vice versa.
BNB's price movement also made an increase of more than 50% after reaching the lowest level recorded in this month's trading, almost reaching the $ 200 level.
This upside factor is also driven by the current rise in Bitcoin price which is testing the $ 40,000 price level after being supported by some movement recovery sentiment.
As a result, the price movement on the BNB chart can be seen to have broken the level of RBS (resistance become support) around the price of $ 300 and has jumped to the price level of $ 380 before making a slight decline in today's trading.
A successful continued rise is likely to test the SBR zone (support become resistance) around the price of $ 440 - $ 480. If the price manages to pass the SBR zone, it will signal a clearer upward trend change.
For higher upside expectations, the resistance level around $ 600 will be retested before heading to the all -time high (ATH) level that was recorded on May 10 at $ 691.77.
On the other hand, if the price returns to decline, the $ 300 RBS (resistance become support) zone may be re -tested and investors will assess whether this zone is able to support again for the price to make a higher rise.
If the BNB price movement continues to maintain a bearish trend, then the support level around $ 200 will be the main focus to be tested but a lower decline is likely to occur if it continues to surpass the support level.
As of 3.00pm local time, the price of BNB has made a jump of over 10% to trade around $ 350.
