BNB has surged 181.79% this year and sits just 10% away from its previous all-time high of $719.84. Despite its bullish performance, recent indicators suggest that momentum may be slowing, hinting at potential consolidation.
BNB Uptrend Shows Signs of Weakness
The Average Directional Index (ADX), which measures trend strength, dropped to 19 from over 30 just two days ago. A reading below 20 indicates a weak or nonexistent trend.
This decline suggests that while BNB’s price remains in an uptrend, its momentum has diminished. For the rally to regain strength, the ADX needs to climb above 25. Until then, the price may move sideways or encounter resistance near key levels.
Ichimoku Cloud Reveals Mixed Signals
The Ichimoku Cloud also points to uncertainty. BNB’s price remains slightly above key lines like the Kijun-Sen and Tenkan-Sen, indicating some bullish momentum. However, it hovers near the edge of the cloud, reflecting a lack of decisive strength.
The green cloud ahead offers mid-term support, but its flat shape suggests limited momentum in either direction. For a stronger uptrend, BNB must break well above the Kijun-Sen and move further from the cloud’s edge. Falling below the cloud could signal the start of a bearish trend.
BNB Price Prediction: New High or Consolidation?
BNB’s Exponential Moving Averages (EMAs) maintain a bullish alignment, with short-term EMAs above long-term ones. If momentum picks up, BNB could challenge resistances at $667 and $687.
Breaking these levels might propel BNB past its all-time high of $719.84 and into uncharted territory. However, a loss of momentum could push the price toward support at $603 or $593. Falling below these levels may lead to a deeper correction, undermining the current bullish structure.
Will BNB Continue Its Uptrend?
While technical indicators highlight a weakening trend, BNB still shows bullish potential. If key resistance levels hold and momentum strengthens, BNB could achieve a new all-time high. For now, traders should watch closely for movement above $667 or signs of support holding near $603.
