$BNB Market Update: Bulls Attempt a Comeback!

Price: $619.83 (+1.84%)

• 24H High: $629.37

• 24H Low: $593.05

Technical Analysis

1. Bullish Momentum on Short-Term Recovery:

• BNB broke above the MA(99) at $615.90, showing a bullish shift in momentum.

• The price briefly hit a 24H high of $629.37 before retracing slightly.

2. Key Moving Averages:

• The MA(7) ($618.96) and MA(25) ($610.80) are trending upwards, signaling a short-term bullish sentiment.

• The MA(99) now serves as key support, reinforcing buyers’ confidence.

3. Volume Analysis:

• Increased trading volume during the breakout above $615 indicates strong participation from bulls.

• However, the current volume decline suggests a temporary slowdown, with consolidation likely.

4. Key Levels to Watch:

• Support: $615 (MA99) and $604, the recent retracement zone.

• Resistance: $629.37 (24H high). Breaking above could trigger a move toward $640+.

5. Indicators and Momentum:

• Momentum favors the bulls, but the retracement from $629 shows sellers are active at higher levels.

• Consolidation above $615 will confirm the strength of the uptrend.

Trading Strategy:

• For Bulls: Watch for a breakout above $629 for continuation to $640-$650.

• For Bears: Look for rejection near $629 and potential pullback toward $604 for short opportunities.

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