Price Action Alert – Is the Next Breakout Coming? 🚨
$BNB is currently trading at $700.59, showing signs of recovery after testing lower levels. Let’s analyze the chart and explore the key levels that could define the next move.
Key Observations
1️⃣ Support Held Strong: The price found stability near $680, marking it as a critical support zone.
2️⃣ Building Momentum: BNB has been making higher lows, indicating growing bullish sentiment on the 30-min chart.
3️⃣ Resistance to Watch: Immediate resistance at $710 could be the deciding factor for the next leg up.
---
Key Targets to Watch
💡 Target 1: $710 – The immediate resistance level. A breakout here could open doors for further upward momentum.
💡 Target 2: $725 – If $710 is cleared, the next resistance lies here. Expect strong interest from traders at this level.
💡 Target 3: $740 – A push beyond $725 could lead to $740, retesting the recent highs and signaling a bullish breakout.
---
Trade Setup
Long Entry: Enter if BNB breaks above $710 with strong volume. Targets at $725 and $740. Set a stop loss at $690 to manage risks.
Short Entry: If BNB fails to hold $700, look for a drop toward $680. Watch for additional downside pressure if $680 is breached.
---
Cautionary Note
BNB’s volatility is still high, so risk management is crucial.
Keep an eye on overall market sentiment and BTC movements, as they can influence BNB’s trajectory.
What’s your strategy for BNB? Share your thoughts below!
