🚀 $BNB /USDT Technical Analysis & Trade Setup

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🔍 Market Overview:

BNB/USDT is currently trading at $616.71, down 4.27% in the last 24 hours. After testing the $645 resistance, the price retraced towards the $600 support level, creating a short-term opportunity for traders.

🔧 Technical Indicators:

1️⃣ EMA Analysis: BNB remains below the 50 EMA, signaling short-term bearish momentum.

2️⃣ MACD: Bearish crossover observed, suggesting potential downside movement.

3️⃣ Bollinger Bands: The price is near the lower band, indicating a possible short-term recovery or further dip if momentum persists.

📈 Short Trade Setup:

Entry: $616.71 (current level)

Targets:

🎯 Target 1: $605

🎯 Target 2: $593

🎯 Target 3: $580

⛔ Stop Loss: $630 (above key resistance).

💡 Risk Management: Ensure proper position sizing and adhere to stop-loss levels to minimize risk.

📊 Market Sentiment: Monitor trading volume and Bitcoin’s movement to confirm direction.

Trade with caution. DYOR!

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