š $BNX /USDT Trade Analysis š
Current Market Overview
Current Price: $1.1658 a strong pump
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š Technical Analysis
1ļøā£ Trend Analysis
BNX experienced a strong rally but is now facing a downward correction š.
The price broke below the $1.20 support and is currently testing $1.16 support.
If the price fails to hold $1.16, we might see further downside towards $1.10 - $1.08.
2ļøā£ Support & Resistance Levels
Immediate Support: $1.16 - $1.08 USDT š”ļø (Important Buy Zone)
Major Resistance: $1.25 - $1.30 USDT š (Needs a breakout for further rally)
3ļøā£ Volume & Order Book Analysis
Seller Pressure Dominating: 80.66% Sell vs 19.34% Buy ā (More sellers than buyers)
Decreasing Volume, which could indicate a potential further pullback before a bounce.
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š Trade Signal & Strategy
š Entry Zones (Buy)
Aggressive Entry: $1.16 USDT (Current price) šÆ
Safer Entry: $1.10 - $1.08 USDT (Better risk-reward)
šÆ Target Levels (Sell)
Short-Term Target: $1.20 - $1.25 USDT š
Mid-Term Target: $1.30 USDT (Major Resistance)
ā Stop-Loss (Risk Management)
Below $1.08 USDT ā (If price breaks below this, more downside likely)
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š¢ Final Verdict: Short-Term Bearish, Possible Bounce at Support ā ļø
BNX is currently in a corrective phase after a strong rally. If the price holds above $1.16, a bounce towards $1.20-$1.25 is possible. However, if it breaks below $1.16, expect a retest of $1.10-$1.08 levels.
š¹ Best strategy: Wait for a confirmed bounce before entering & set stop-loss below support to manage risk! šš°