The BNB token's value has remained steady above its recent low point and is showing signs of aiming higher. Following a period of decline, the native token of Binance Smart Chain is looking to rebound towards its previous peak.

Analyzing the chart, various indicators provide insight into where the BNB price might be heading next:

Looking at the 4-hour MACD indicator, the histograms are trending above zero, with both the MACD line and Signal line crossing and heading towards the zero line, indicating a bullish trend.

In the RSI on the 4-hour timeframe, the signal line is above the 50% level, suggesting upward movement and indicating active buying in the market, outweighing selling pressure.

Examining the 4-hour alligator indicator, BNB is trading above the alligator lines, with both the lip and teeth crossing above the jaw, hinting at a potential new rally.

As of writing, BNB's price has increased by 1.35% and is trading around $561 in the last 24 hours. The bullish signs are evident as the price forms a base above the $508.1 support level and trades above the bearish trend line but below the 100 Simple Moving Average on the 4-hour chart.

In summary, despite previous downward movement, BNB has established a major resistance level at $635 and a support level at $508. If the price surpasses the resistance, it could reach new highs. Conversely, failure to break the resistance could lead to a downward movement towards previous support, potentially initiating a new downtrend.