💡 Quick technical analysis:
✅ Remarkable stability! After reaching $587.50, the price returned to consolidate around $598, indicating potential accumulation before a strong upcoming movement.
✅ RSI indicator at 44.29: relatively low, meaning the asset has not entered the overbought territory – a good opportunity for a rebound.
✅ MACD near the equilibrium point with a potential crossover: momentum seems weak right now, but it's paving the way for an upcoming move with the first buying push.
✅ Stochastic K indicator at 43.03 is about to cross with D at 44.64, which may indicate a bullish reversal in the coming hours.
---
🚀 Expected scenario:
If BNB breaks the resistance level of $603.61 (highest price in the last 24 hours), we may see a surge towards $615 then $620.
If the support at $595 is broken, it may return to test the $587 level as a strong previous support.
---
🔍 Additional supporting signals:
Sideways movements indicate accumulation in a narrow range, and this pattern is often followed by a sudden price explosion.
A decline in relative trading volume may indicate traders are waiting for the decisive moment.
---
🎯 Expectations for the upcoming movement:
Breaking $603.61 will push the price to $615 then $625 levels.
Failure to maintain $595 may pressure the price towards $587 then $575 as closer support.
---
💬 My personal opinion:
The price of BNB is in a "quiet accumulation" phase, and technical indicators suggest that the next movement will be crucial. It's as if the price is getting ready to jump – just waiting for the spark!
---
✅ Final advice:
Place a stop loss below $595 to avoid any sudden corrective drop.
Gradual entry while following news related to BNB and Binance may be strategic.
---
📢 Do you expect BNB to soar towards $620 levels soon? Or is a correction looming on the horizon? Share your views!