Crypto friends, good afternoon. Let's analyze the short-term trend of BNB on June 20th: strong fluctuations, building momentum to break through key levels.
As of now, the BNB price is around 647, showing strong resistance to decline, maintaining a high-level consolidation pattern. Recently, the bulls have continued to control the market, and although there has been some selling pressure, the price is overall operating above the moving average system, indicating strong market confidence in BNB.
From a technical perspective, the short-term support level for BNB is in the 635-640 range, which is the pullback confirmation area after the previous breakout. If it can stabilize, it will form a solid bottom; the primary resistance above is focused on the 655-660 line. Once effectively broken, it may open up further upward space, with targets potentially pointing to the 680-700 area.
In terms of trend structure, the current price is still near the mid-line of the ascending channel. If it continues to maintain volume-price coordination in the short term, a rapid rise cannot be ruled out. The MACD indicator shows a mild golden cross, with a slight increase in the momentum bars, indicating that short-term bullish momentum is brewing.
Overall, BNB is still inclined to run strong in the short term but is facing key pressure tests. It is recommended to maintain a cautiously optimistic attitude in operations. If the price pulls back to around 640 without breaking, you can attempt to build a long position; it would be more prudent to chase higher after a breakout at 660.
