$BNB The recent short liquidation of $27.826K for Binance Coin (BNB) at $695.65 is definitely a significant market move. A liquidation means that many traders who bet on the price of BNB going down short positions had to close their trades due to the price rising above their predicted levels. This could be a sign of a strong upward momentum, but it’s important to carefully plan your next steps.
What’s Next for BNB.
1. Upward Momentum Expected.
The liquidation at $695.65 suggests there was a rapid increase in price, which often triggers more buying activity as traders who shorted BNB are forced to buy back to cover their positions. This could lead to a continuation of the bullish trend.
2. Bullish Sentiment.
If the price sustains above this liquidation level, we could see further bullish movement towards new highs. However, be cautious as the market can be volatile, and profit-taking could occur after such a sharp move.
Buy Zone.
Key Level for Entry.
If BNB dips or consolidates around $685-$690, this range might present a good opportunity to enter a long position. The price could hold around these levels as it seeks to find support after the recent price surge.
Strong Support.
Look for any signs of price stabilization near $670-$680, as this zone could offer a safer entry point for buyers looking for a confirmation of trend reversal.
Target Levels.
Target 1: $720 A logical resistance point based on previous price action. If BNB continues to rise, it could hit this level.
Target 2: $740-$750 This range could be the next major resistance level to watch out for if the price breaks past $720.
Tip.
Always set a conservative target first and adjust based on market action.
#BNB/USDT #BinanceAlphaAlert #BTCXmasOrDip? #XmasCryptoMiracles #Crypto2025Trends