Technical Indicators Suggest A Consolidated Move For BNB Price

The weekly technical chart of Binance coin highlights a bearish move. BNB price is in a consolidated rally in the daily time frame. Resistance on the upside for BNB can be seen at $600. It can bounce back while going down from $450. It is trading above 50 and 100 Moving Average. The 50MA (Red) line is at $363, making it temporary support for the price. The coin has formed a consolidated zone on the daily chart. If the price breaks 20% above the zonethen a strong bullish momentum can be seen.