๐ $BNB /USDT Technical Analysis & Trade Setup
๐
๐ Market Overview:
BNB/USDT is currently trading at $616.71, down 4.27% in the last 24 hours. After testing the $645 resistance, the price retraced towards the $600 support level, creating a short-term opportunity for traders.
๐ง Technical Indicators:
1๏ธโฃ EMA Analysis: BNB remains below the 50 EMA, signaling short-term bearish momentum.
2๏ธโฃ MACD: Bearish crossover observed, suggesting potential downside movement.
3๏ธโฃ Bollinger Bands: The price is near the lower band, indicating a possible short-term recovery or further dip if momentum persists.
๐ Short Trade Setup:
Entry: $616.71 (current level)
Targets:
๐ฏ Target 1: $605
๐ฏ Target 2: $593
๐ฏ Target 3: $580
โ Stop Loss: $630 (above key resistance).
๐ก Risk Management: Ensure proper position sizing and adhere to stop-loss levels to minimize risk.
๐ Market Sentiment: Monitor trading volume and Bitcoinโs movement to confirm direction.
Trade with caution. DYOR!
