๐ Technical Analysis of #bnb ๐น
1. Overall Trend:
๐ The price is confidently holding above EMA(99) ($706.76), indicating bullish sentiment. However, the price tested levels above $730 and pulled back, suggesting a possible local consolidation.
2. Trading Volumes:
๐ Volume spikes are noticeable during significant price movements, such as the rise to $793.86.
โ ๏ธ Current volumes are decreasing, reflecting reduced market activity and anticipation of the next impulse.
3. Entry Points for Positions:
๐ Long:
1๏ธโฃ Entry: $725 (close to EMA(7)).
Targets: $745 ๐ฅ, $793 ๐ฅ.
Stop-loss: $710 ๐.
2๏ธโฃ Entry: $705 (testing EMA(99)).
Targets: $730 ๐ฅ, $750 ๐ฅ.
Stop-loss: $690 ๐.
๐ Short:
1๏ธโฃ Entry: $745 (local resistance).
Targets: $725 ๐ฅ, $710 ๐ฅ.
Stop-loss: $755 ๐.
2๏ธโฃ Entry: $790 (retest of the previous high).
Targets: $750 ๐ฅ, $730 ๐ฅ.
Stop-loss: $800 ๐.
4. Recommendations:
โ๏ธ For long positions, monitor EMA(7) and EMA(25): if the price holds above, it confirms the buy signal.
โ๏ธ For short positions, track the RSI: an overbought zone (>70) will be an additional signal for selling.
๐ If volumes increase during the breakout of key levels (e.g., $745 or $705), this will confirm the strength of the movement and validate entry opportunities.
Conclusions:
๐ฅ BNB is in a consolidation phase, and the next move will be determined by breaking through either $725 (upward) or $705 (downward). Trade wisely, manage your risks, and always set stop-losses! ๐ก
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Happy trading! ๐ฐ