Current Price: $656.47 (+1.87%)
BNB/USDT has shown signs of recovery after dropping to $638.21, but the upward momentum seems to be stalling near $656. Traders should stay cautious as the market decides its next direction.
🔑 Key Levels to Watch
1️⃣ Resistance Levels:
• $676.79: A break above this 24-hour high could trigger bullish momentum, with targets at $685 and $700.
2️⃣ Support Levels:
• $650: Immediate support; a drop below this level could lead to a retest of $638.
• $620: Key support zone—if broken, a bearish trend may develop.
📉 Bearish Scenario:
• If BNB fails to reclaim $660, sellers may push towards the $650 support level.
• A break below $650 could drive BNB toward $630 or lower.
🚀 Bullish Scenario:
• A sustained move above $660 could target $676 and beyond.
• A breakout past $685 could signal the continuation of an uptrend, aiming for $700.
📊 Indicators:
• KD values near oversold territory suggest a potential short-term bounce, though weak momentum could delay any major moves.
⚠️ Trade Setup:
• Long Entry: Above $660, with targets at $676, $685, and $700. Stop-loss at $645.
• Short Entry: Below $650, with targets at $638 and $620. Stop-loss at $665.
Stay alert—$BNB is at a crucial juncture!
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