Exciting technical analysis of BNB against USDT – Is it time to enter?
The last candle is a Doji candle, indicating confusion and hesitation between buyers and sellers. It comes after a strong downtrend, which may suggest the possibility of a trend reversal or at least a temporary halt in price bleeding.
Full technical analysis (daily frame):
Current price: 756.33 USDT
Overall trend: Recently bearish after reaching a peak at 861.10 USDT
Near support: 721 USDT
First resistance: 772 USDT
Second resistance: 800 USDT
Technical indicators:
RSI at 42.64: In the neutral zone, leaning towards oversold → may indicate a near buying opportunity.
MACD: Still in the negative zone but there is convergence between the lines → possibility of a positive crossover.
Bollinger Bands: The price is currently in the middle of the channel, indicating relative stability after volatility.
Entry points and targets:
First entry point 745 - 750 USDT
First target 772 USDT
Second target 800 USDT
Stop loss 720 USDT
Alternative plan If it breaks 800 with a daily close → we target 830 - 850 USDT
Final question for discussion:
Do you think BNB is preparing for a new breakout as the market enters an accumulation phase? Or are we just facing a temporary bounce?