$BNB /USDT - Technical Analysis Update

Current Price: $697.86 (+0.11%)

Price Action: BNB is consolidating near the $699 resistance zone, showing bullish intent after a significant rebound from the $618 support level. The hourly chart reveals steady upward momentum, with higher lows supporting the trend.

Targets and Strategy

1. Target 1: $703 – Immediate resistance lies at this level. A breakout above $703 could signal a continuation of the bullish trend. Watch for volume confirmation at this price.

2. Target 2: $715 – This level marks the next resistance. A push beyond Target 1 with strong buying pressure could lead to this zone. Partial profit-taking is advisable here.

3. Target 3: $730 – If the bullish trend extends, this will act as a major resistance level. Monitor RSI and MACD for potential overbought signals as the price approaches.

Advice

Short-Term Traders: Look for a breakout above $703 before entering. Set stop losses below $682 to manage risk.

Long-Term Holders: Consider holding positions as long as the trend remains intact. A sustained break above $715 could signal a stronger uptrend.

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