$BNB

BNB Price Analysis: A Key Moment Before the Breakthrough!

BNB's recent price performance has resembled a compressed spring, hovering between the 20-day moving average ($700) and the resistance level of $722. This operation is clearly building up for a big move! But whether the breakout direction is upward or downward, we still need to keep a sharp eye to see clearly.

Bullish Strategy: Break above $722, target $760+

Key Resistance $722: If the price breaks above and stabilizes above $722, it indicates that the bulls are starting to gain strength! Next, BNB could rebound all the way, aiming for $760, or even challenge the high of $794.

Trading Tip: After breaking above $722, consider entering long with a small position, set a stop loss below $715, target $760, and take profits in batches.

Bearish Strategy: Losing $700 increases the risk of a pullback

20-day Moving Average Support: If the price falls below the 20-day moving average ($700), the bulls may not be able to hold on.

Downward Target: Once the 20-day moving average is lost, the price could slide towards the 50-day moving average ($680), or even test the support level of $633.

Trading Tip: If the price falls below $700, consider shorting, targeting $680 and $633, with a stop loss set above $705.

BNB is currently in a key compression zone before the breakout. Once the direction is clear, a big market move may come! Keep an eye on the performance at $700 and $722; go long on a breakout and short on a breakdown. Manage your position and patiently wait for market signals. Stay steady, we can profit!