Following a major recovery in the past few days, BNB posted notable gains and climbed back above $600. While it remains bearish in short-term, a further recovery could put the asset back in an upward range. Last week, BNB traded as low as $500 after experiencing a sudden collapse, initiated from the $690 level in late January. That marked its lowest level in five months but the price got wicked at the level and closed that week well above $600. Within that short period, it recovered well from the collapse and is now painting a strong green scenario on the daily timeframe. While this recovery has brought notable relief, the bulls are now gaining control of the lower timeframe. Despite that, the structure is still looking bearish on the short-term trend. A rejection under the $680 level could trigger a rollback to the recent multi-month low. However, following the ongoing recover, which look more like a rebound pattern, BNB may shift trend to the upside to resume bullish momentum at full speed. The $800 level remains a crucial breakpoint to confirm the rally. Failure to break this crucial level could subject the market to a sideway trend before rallying hard. BNB Key Level To Watch Source: Tradingview BNB’s latest recovery is targeted at the $660.8 resistance. If the price overcomes this resistance, it may navigate to $700. Higher resistance levels to watch for more increases are $745 and $793.8. The recently flipped $618.7 level is now serving as support. A pullback below it could slide us back to $593 and the $544 support. Losing the $500 level could set the market up for a bigger fall. Key Resistance Levels: $660.8, $700, $745 Key Support Levels: $618.7, $593, $544 Spot Price: $639.7 Trend: Bullish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: archnoi1 / 123RF // Image Effects by Colorcinch
