$BNB Market Trend: Bearish, Consolidating After Downtrend
Trade Signal
Entry 1 (Short): $844.42 (Current zone - for immediate continuation)
Entry 2 (Short): $847.11 (Short on failed bounce to the middle band)
TP1: $841.57
TP2: $839.00
TP3: $836.02
TP4: $832.50
Stop-Loss: $849.00 (Above recent high)
Why This Trade?
BNB is in a clear downtrend, consistently trading below its middle Bollinger Band, which is a strong bearish signal. The Bollinger Bands have expanded downwards, indicating strong bearish momentum. The price is currently in a consolidation phase, which is likely a pause before another leg down in this bearish market.
Support & Resistance Levels
Support: $841.57 • $836.02 • $832.50
Resistance: $847.11 • $849.00 • $855.00
Market Update for BNB (BNB)
BNB is currently experiencing strong negative momentum, with prices consolidating after a sharp decline. The overall market sentiment for BNB is bearish, and traders are watching for a break below the current consolidation range to confirm further downside.
