$BNB /USDT Technical Analysis - Targets Update
Current Price: $667.44
Change: -0.12% (30m timeframe)
The recent price action for $BNB /USDT shows a strong rebound from support levels, reflecting bullish momentum. Let's break down the three targets for this setup:
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First Target: $680 (Key Resistance)
Analysis:
This level aligns with the recent 24h high, acting as the primary resistance. Breaking above this can signal continuation of the uptrend.
Action Plan:
Consider partial profit-taking at this level and adjust stop-loss to secure gains.
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Second Target: $700 (Psychological Level)
Analysis:
A key psychological resistance level, often met with increased selling pressure. A breakout can attract more buyers.
Action Plan:
If momentum sustains, trail your stop-loss and let profits run. Watch for confirmation candles.
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Third Target: $730 (Extended Target)
Analysis:
Marked as a mid-term target, representing a 4.6% rise from $700. A clear breakout from $680 and $700 levels could pave the way for this zone.
Action Plan:
Secure partial profits and monitor volume strength. Look for overbought signals near this level.
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Support Levels to Watch:
$656: Local support based on recent price action.
$650: 24h low and a potential re-entry point if the price dips.
Trading Strategy:
Set stop-loss below $650 for risk management.
Adjust positions dynamically based on price action.