$BNB To make a bullish trade on **Binance Coin (BNB)**, here is a detailed analysis based on the current market situation and forecasts from several analysts:
### Technical Analysis and Key Levels
1. **Resistance and Support**:
- BNB is currently testing a major resistance around **$658**. If it manages to break this level on a sustained basis, the next upside targets would be **$711**, **$778**, and **$863**, which coincide with Fibonacci extensions and recent historical resistances.
- In case of a pullback, the key support lies at **$600**. A pullback to this level could offer a good buying opportunity for traders looking to take advantage of a bounce.
2. **Technical Indicators**:
- The **MACD** is showing a positive crossover, indicating bullish momentum. Also, the formation of a “golden cross” between the 100-day and 200-day moving averages suggests a continuation of the upward movement.
- The **RSI** is around 60, indicating that there is still room for further upside before the asset enters overbought territory.
### Trading Strategy
- **Recommended time to open a trade**: You can consider opening a long position if the price breaks and closes clearly above **$658** on a 4-hour or daily time frame, as this would confirm a resistance breakout.
- **Recommended amount**: To determine the position size, adjust according to your risk tolerance level. A safe strategy would be between 1-3% of your total trading capital on this trade.
-p Loss**: Place a stop loss below the critical support at **$600** to limit potential losses in case the price pulls back.
- **Take Profit**: Set your profit targets at the **$711**, **$778**, and **$863** levels.
### Additional Considerations
- The cryptocurrency market is highly volatile, so it is recommended to keep an eye on news that may affect the ecosystem and its native token BNB,