BNB Stable At $640 – Is A Major Breakthrough Coming?

After the recent adjustment, the price of BNB is showing signs of recovery as it continues to consolidate above the strong support zone of $640. With positive technical signals and the recovery momentum from major coins like Bitcoin and Ethereum, many investors are hoping for a new breakout of BNB in the near future. Recent Developments: BNB Attempts to Recover From $642 After forming a short-term bottom around $642, the price of BNB has bounced back, surpassing important resistance levels at $650 and $652. Notably, on the hourly chart, the BNB/USD pair has broken through the downtrend line, further reinforcing the bullish signal. Currently, the price of BNB is trading above $655 and is above the 100-hour moving average (100-hourly SMA), indicating that the recovery momentum is being maintained quite well. Important Resistance Levels to Overcome Level $660: This is the first resistance level on the way up. It corresponds to the 61.8% Fibonacci retracement level of the drop from the peak $671 to the low $642. Level $670: If it can surpass $660, the $670 mark will be the next challenge. A decisive breakout through this zone could pave the way for a stronger upward trend. Levels $678 and $685: These are the next two important price levels. A close above $678 will confirm a clear upward trend and may open up the opportunity to challenge the psychological level $700 in the short term. Discount Scenario If Fails at $660 If BNB cannot break through the resistance zone at $660, a slight correction may occur. The nearest support levels include: $652: Short-term support.$650: Notable support zone.$642: Major support, acting as a foundation for the current recovery. If this level breaks, BNB could drop significantly to the $630 zone or even $620. Technical Indicator MACD (Time frame 1h): Currently moving in the positive zone, indicating that bullish signals are prevailing.RSI (Relative Strength Index): Above 50, supporting the bullish trend. Conclusion The BNB price is in a phase of positive consolidation above the $640 mark and has the potential to break out if it breaks through the $660 - $670 resistance zone. In case the bullish scenario is confirmed, the next target milestones will be $678, $685, and even $700. However, if it fails at the $660 area, investors should pay attention to the support at $642 – the price zone that determines the medium-term trend of BNB.