Technical Analysis for $BNB /USDT

Current Price: $695.80 (-1.36%)

24h High: $719.99

24h Low: $690.00

Key Levels:

1. Target 1: $705.00

Immediate resistance, a potential bounce zone for short-term recovery.

2. Target 2: $720.00

Recent high; breaching this level confirms bullish momentum.

3. Target 3: $740.00

Long-term target contingent on strong volume and bullish sentiment.

Action Plan:

Short-Term Traders:

Monitor $705.00 for a potential reversal; secure partial profits at $720.00.

Place a stop-loss below $690.00 to manage risk.

Swing Traders:

Look for confirmation of sustained momentum above $720.00 to target $740.00.

Use a trailing stop-loss near $685.00 to lock in gains.

Indicators to Watch:

Volume: Increasing buy volume above $705.00 will indicate renewed interest.

RSI: Check for neutral levels to avoid overbought or oversold zones.

Moving Averages: Watch for a bullish crossover as a sign of trend continuation.

Summary:

BNB/USDT is retracing slightly after hitting $719.99 but remains above key support at $690.00. A bounce back above $705.00 could lead to higher targets, with $720.00 being the critical breakout zone.

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