⚠️ $BNX /USDT Market Update – $0.9715 (-11.67%)
🚨 Important Notice:
The BNX project is undergoing an upgrade and redenomination.
📌 Trading Suspension Date: March 18, 2025, at 08:00 UTC+5
⚠️ Expect increased volatility leading up to the event.
📊 Market Overview
📌 Current Price: $0.9715 (-11.67%)
📌 24H High: $1.1686
📌 24H Low: $0.8829
📌 24H Volume: 52.11M BNX / 51.93M USDT
📉 Technical Analysis
✅ Support Levels:
$0.9700 - $0.9500 → Immediate support
$0.9000 - $0.8829 → Strong support
🚀 Resistance Levels:
$1.000 - $1.020 → Immediate resistance
$1.100 - $1.168 → Key breakout level
📈 Indicators & Trend Analysis
🔹 RSI: Oversold → potential for a rebound
🔹 MACD: Bearish → selling pressure still dominant
🔹 Bollinger Bands: Price at lower band → possible short-term bounce
📉 Trading Strategy
📌 Bullish Scenario:
If BNX rebounds above $1.000, a move to $1.100 - $1.168 is possible
Sustained buying could lead to $1.200+
📌 Bearish Scenario:
A drop below $0.950 may push BNX towards $0.900 - $0.8829
Breaking $0.880 could trigger further downside
⚠️ Risk Management:
🔹 Stop-loss: Below $0.950
🔹 Take profit: $1.100 - $1.168
🔍 Final Thoughts
BNX is experiencing high volatility ahead of its upgrade and redenomination. While it's currently bearish, a potential rebound is possible if buyers step in at support levels.
Caution is advised due to the upcoming March 18 trading suspension. Stay updated and trade accordingly.