#BNBBhutanReserves
$BNB Attempts a Reversal Can Bulls Regain Control? $BNB is showing signs of a potential reversal after a steep drop, currently trading at $700.44, down 4.09% in the past 24 hours. After hitting a low of $681.56, buyers are stepping in to push the price higher.
Key Levels to Watch:
1. Support Zone:
$681.00: Critical level that held the recent drop, acting as a base for the bounce.
$660.00: If broken, could lead to further downside.
2. Resistance Levels:
$715.00: The first hurdle for bulls to overcome to sustain the reversal.
$730.00: A break above this level could signal a stronger recovery.
Trade Setup:
Long Trade (Reversal Confirmation):
Entry: Above $705.00
Targets: $715.00, $730.00
Stop-Loss: $690.00
Short Trade (Failed Reversal):
Entry: Below $690.00
Targets: $680.00, $665.00
Stop-Loss: $705.00
Market Insight:
The RSI is rebounding from oversold levels, hinting at recovery momentum. However, volume needs to rise for the reversal to sustain. Traders should remain cautious and monitor critical levels, as $BNB could witness sharp movements in either direction.
Stay alert and manage risks strategically....