BNB/USDT | Short-Term Technical Analysis (15m TF)
Current Price: $589.39 | 24H Range: $588.14 – $600.49
Trend Bias: Neutral to Bearish (short-term)
Technical Indicators:
Parabolic SAR: Dots remain above the price, signaling downward momentum persists.
MACD: Showing early signs of recovery with a minor bullish crossover, but still weak overall.
Support: $588.14 (recent low)
Resistance: $592.00 / $596.30
Market Sentiment:
Volume remains modest after a sharp drop; buyers are still hesitant (Order Book: 33.76% bid vs 66.24% ask).
Trade Signal (Short-Term Idea):
Entry: Watch for a break above $590.50 for potential bounce
Take-Profit: $594.50 (TP1), $598.00 (TP2)
Stop-Loss: Below $587.80
Alternate Plan: A break below $588.00 could invite renewed selling pressure.
Conclusion:
BNB is consolidating after a sharp drop, with slight MACD recovery signs. However, caution is warranted unless strong volume confirms an upside move. Consider waiting for confirmation before entering long.
