$BNB is currently at a crucial resistance zone!
Let's break it down point-wise:
~ Price has reached the top of a long-standing parallel channel, just like it did in previous cycles (see the circles).
~ Each time BNB hit this upper trendline, it faced strong rejection and pulled back.
~ Right now, it’s showing similar signs — the price touched the upper boundary and is starting to react.
~ RSI is above 70, indicating overbought conditions. This often signals a potential short-term cooldown.
~ A pullback could take BNB down towards the midline or lower support of the channel — somewhere between $590–$650.
What to do?
• Short-term traders: This might be a good time to lock in profits or wait for confirmation before entering new positions.
• Long-term holders: Stay calm — this is just part of the natural cycle.
Key Levels:
• Resistance: $860+
• Support Zones: $730, $650, and $590
Note: Always do your own analysis and risk management before making any moves.
#bnb #Write2Earn
Let's break it down point-wise:
~ Price has reached the top of a long-standing parallel channel, just like it did in previous cycles (see the circles).
~ Each time BNB hit this upper trendline, it faced strong rejection and pulled back.
~ Right now, it’s showing similar signs — the price touched the upper boundary and is starting to react.
~ RSI is above 70, indicating overbought conditions. This often signals a potential short-term cooldown.
~ A pullback could take BNB down towards the midline or lower support of the channel — somewhere between $590–$650.
What to do?
• Short-term traders: This might be a good time to lock in profits or wait for confirmation before entering new positions.
• Long-term holders: Stay calm — this is just part of the natural cycle.
Key Levels:
• Resistance: $860+
• Support Zones: $730, $650, and $590
Note: Always do your own analysis and risk management before making any moves.
#bnb #Write2Earn
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
BNB
801.59
-0.46%