$BNB
Long-term trend analysis
Main trend:
The price is in a strong upward phase from the bottom around ~200 USDT, forming higher highs and higher lows.
EMA (7, 34) is supporting the upward trend, situated above longer-term EMAs (EMA 90, 200).
However, the current price is touching the Fibonacci resistance level of 1.0 (~792 USDT) and there are signals of a correction.
Important support and resistance:
Resistance: 792 USDT (previous peak), 823 USDT (expected peak).
Support:
665.70 USDT (Fibonacci 0.786).
565.88 USDT (Fibonacci 0.618).
495.77 USDT (Fibonacci 0.5).
Short-term forecast:
The price is likely to correct to the Fibonacci support levels (0.786 or deeper to 0.618) before continuing to rise.
If these support levels are broken, the long-term upward trend may weaken.
Entry to place an order
Buying plan:
Wait for the price to correct to the support area:
Entry 1: 665 - 670 USDT (0.786 area).
Entry 2: 565 - 570 USDT (0.618 area, if a deeper correction occurs).
Monitor trading volume: If volume increases at support levels, this is a confirmation signal of buying pressure.
Stop Loss:
Set Stop Loss below strong support (490 USDT or lower depending on risk appetite).
Target:
Short-term target: 792 USDT (previous peak).
Long-term target: 823 USDT (Fibonacci extension)