Brothers, good evening! Tonight, Long Ge will have a good chat with everyone about the trend of BNB, analyzing the key price levels and trend direction for the day.
First, let's look at the current price, which is now reported at $830.23, with a 24-hour decline narrowing to -1.02%. In the short term, it has broken through the $830 level, but it hasn't firmly established a foothold yet, and everyone needs to pay attention to this.
Next, let's talk about the resistance level. $837 is the key resistance for the intraday rebound. If it can break through this level, it may then test the range of $847 to $853. If it can firmly stay above $837, the bullish target will be looking towards $860.
The support level also needs to be clarified. $830 is the short-term dividing line between bulls and bears. If it breaks below this, the risk of a pullback will increase significantly. Further down, the range of $813 to $800 is the secondary support area. If this support area is also broken, it may need to probe down to $782, which is a strong support level on the weekly scale.
On-chain activity has been quite impressive, with BNB chain's recent trading volume hitting a three-month high, with 14.1 million transactions in a single day, and monthly active users exceeding 33 million, indicating strong ecological demand. Moreover, the number of smart contracts deployed surged by 49.26% in 24 hours, adding 403 new contracts, which also drove up transaction fee expenditures, showing that its practical value is increasing.
Another situation is that the Bollinger Bands are converging. The bandwidth on the 4-hour level has narrowed, with the upper band dropping to 768 and the lower band rising to 742, indicating that short-term volatility will decrease; everyone needs to be alert for directional breakouts.
Lastly, let's discuss Long Ge's operation advice for tonight. A pullback to around $827-$824 can be a direct buy, targeting $837 to $850. However, be sure to set a stop loss when entering, and definitely do not hold onto losing positions; this point must be remembered.