$BNB at the crossroads – A smart buying opportunity or the beginning of a new fall?!
The price of BNB has seen a significant decrease of -3.82% over the past 24 hours, reaching $612.70, and it seems that the market is testing one of the strongest technical support areas this month. Is it time to enter?
Detailed technical analysis for BNB/USDT:
Lowest price today: $608.80
RSI (6): at 17.85 → in a severe oversold area 🔻
Bollinger Bands: the price broke the lower limit at $616.09, indicating excess selling pressure and an imminent rebound opportunity.
MACD: consistently negative, but momentum is slowing down, which may indicate the beginning of a potential positive crossover.
Trading volume: relatively high, which supports the chances of a reversal if the price stabilizes.
Short-term trading strategy (Scalp / Swing):
Entry point: between $610 – $613
First target (TP1): $625
Second target (TP2): $638
Stop loss (SL): breaking below $602 and closing below it with a 4-hour candle.
The current area is considered strong support, and the market shows clear oversold conditions, making it a potential entry opportunity with calculated risk.
Important notes:
Do not use all your capital; divide your entry into stages.
Monitor Bitcoin's performance as it directly affects BNB.
Maintain the stop loss as a break below $600 may open the door to levels of $580.
Do you think BNB will withstand this drop and start a new upward journey? Or is there more bleeding to come? Share your opinion 👇