#TradeWarEases The price of BNB is in a short-term uptrend, but the RSI and KDJ indicators show overbought regions, signaling the potential for a downward correction or accumulation in the near future.
- Support level: If the price corrects, the nearest support level could be $665.14 (the low of the large green candle) and further at $662.41.
- Resistance level: The nearest resistance level is $670.63 (recent peak). If this level is surpassed, the price may target $672 or higher.
- Recommendation: Short-term traders need to be cautious of the potential for a downward correction due to the overbought signal. If you want to buy, it is advisable to wait for the price to correct towards the support level and to have confirmation signals from volume or indicators like MACD. Conversely, if holding a sell position, it is necessary to set a stop-loss above $670.63.
5. Additional note:
- The 1-minute timeframe often experiences strong volatility and is easily influenced by short-term factors (such as news, market sentiment). For a clearer view, you may consider larger timeframes (1 hour, 4 hours) to determine the main trend.