$BNB is trading at 594.7, up 1.69% for the day, with a high of 595.7 and low of 576.4. Momentum is strong, but there are key resistance levels ahead.

Technical Overview:

RSI (6) is at 73.3, indicating overbought conditions, signaling possible exhaustion of the current uptrend.EMA (7, 10, 14) are all below the current price, confirming bullish momentum with immediate support around 590.6.

Support and Resistance Levels:

Resistance:First key resistance is at 595.2, with stronger resistance at 601.1 and 604.4.

Support:Immediate support is at 586.6 and 575.8.

Strategy:

Long: A breakout above 595.7 could target 601.1. However, considering the high RSI, it might be prudent to wait for a pullback to 586.6 or below for a better entry.Short: Overbought conditions suggest potential for a correction. Shorting at 595.7 with a target around 586.6 or 575.8 could be considered, with stops above 601.1.

Summary:

BNB is testing key resistance around 595, but RSI suggests a pullback could be coming. Watch for a breakout above 595 or a retracement toward 586 to confirm the next move.

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