Recently, the value of BNB is aiming to ascend from the region around $550. The price has surpassed the significant hurdle of $600 and is potentially set for further advancement beyond $630. Initially, the BNB price surged after breaking through the resistance zone at $550. At present, it hovers above $580, trekking alongside the 100 simple moving average over four hours. Notably, a crucial bullish trend line is establishing with a supportive stance at $592 within the 4-hour BNB/USD pair chart, referenced from Binance data. Optimistically, the pair is tipped to gain bullish momentum upon surpassing the $608-$610 resistance zone.

Having established a foundation above the $520 mark, the BNB price charted a fresh upsurge, transcending past resistance benchmarks at $550 and $565, akin to Ethereum and Bitcoin’s movements. The motivated bulls elevated the price above the pivotal $580 level, as well as the 61.8% Fib retracement point from the decline’s $630 peak to the $512 nadir. Consequently, it now maintains position above $580, clinging to the 100 simple moving average over four hours.

In its current consolidation phase, BNB flirts just beyond the 76.4% Fib retracement boundary from the plunge between the $630 zenith and $512 base. Concurrently, the emergence of a vital bullish trend line offering support at $592 on the 4-hour BNB/USD chart signifies an underlying robust stance.

The immediate hurdle stands close to the $608 threshold, with subsequent resistance lingering around $630. A clear breakthrough past this stronghold could propel the price to loftier heights. In a favorable scenario, the BNB price might surge towards the $650 benchmark. A decisive breach beyond the $650 barrier could pave the way for greater advancements toward the $680 resistance level. Substantial gains might insinuate a test of the $720 milestone in the near days ahead.

Should the price trajectory falter in crossing the $608 resistance mark, a downside correction could be triggered. Initially, support levels anchor near the $592 pinnacle and the outlined trend line. The subsequent major supportive layer looms around the $585 echelon, with primary support base positioned at $570. If a breakdown beneath the $570 support regime occurs, the price may plummet towards the $550 support range. Further decline could instigate a formidable dip towards the $532 level.

For the tech-savvy, technical indicators are also notable in this rally; the 4-hour MACD for BNB/USD indicates an acceleration of momentum within the bullish territory. Meanwhile, the 4-hour RSI for BNB/USD currently registers above the 50 threshold, reflecting a bullish stance. Crucial support tiers are identified at $592, $585, and $570, while significant resistance benchmarks are traced at $608, $630, and $650.

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