The current price of $BNB BNB/USDT is $668.35, with a fluctuation range of $650 to $680.91 in the last 24 hours. From a technical analysis perspective:
1. Trend:
• The price has recently dropped from a high of $793.86 and is currently at a lower level.
• There are signs of price rebound in recent trading days, but overall it is still in a correction phase.
2. Moving Averages (MA):
• MA5 (short-term moving average) and MA10 (medium-term moving average) show an upward stabilization trend in price recently, but the larger time frame MA has not fully confirmed this.
3. Volume (VOL):
• Volume shows fluctuations, with a significant increase when the market was at its peak, followed by a decrease in volume and price drop.
• If the price increases in volume again, it may indicate that the bulls in the market are becoming active again.
4. Support and Resistance:
• Support level: The current short-term support level is around $650, with the previous low of $593.05 being a stronger support.
• Resistance level: The nearest resistance level above is at $730, and breaking through this could test the high of $793.
Trading Recommendations:
• If the price can stabilize above $667, there may be potential for further short-term gains.
• If it breaks below $650, be cautious of the risk of further declines.
• Pay attention to changes in market volume; if the price breaks through resistance with increased volume, it is a good time to enter the market.
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