$BNB

BNB Price Analysis: Range Consolidation, Breakthrough Approaching?

Brothers, BNB has recently rebounded strongly from the support level of $633, with bulls clearly holding the line here. Let's take a look at the key trends ahead!

Range Consolidation: $633 - $722

The 20-day moving average ($689) is flat, and the RSI is slightly above the midpoint, indicating that the market is currently leaning towards sideways consolidation.

BNB may oscillate between $633 and $722 in the short term, suitable for conservative traders to capture short-term opportunities.

Bullish Plan: Breakthrough $720, Target $760+

If the bulls can break through the resistance point of $720, the upward space will open up, with a target looking towards $760, or even further to $793.

This would signify that bullish strength is gradually recovering, and short-term traders can focus on pullback opportunities after the breakout.

Bearish Counterattack: Drop Below the Uptrend Line

If the bears push the price down and maintain it below the uptrend line, that would be troublesome, potentially signaling the end of the short-term rebound, with bears regaining control of the situation.

Currently, the $633 support and $720 resistance are key points, and both sides are waiting for a breakout signal! If trading short-term, don’t chase highs or cut losses; patiently wait for the breakout direction to become clear before taking action.