$BNB /USDT – Bearish Retracement in Progress!
Momentum Analysis
BNB is currently showing a downward trend with a -5.96% drop. The price has recently retraced from its 24h high of 607.92, and it is testing key support levels near 566.88. This correction could continue if the broader market remains in a bearish phase, with the price potentially reaching 544.72.
Long Setup:
Entry Zone: Wait for confirmation at 566.88. Consider entering near this level or after a minor rebound.
Targets:
T1: 546.83
T2: 563.24
T3: 591.02
Stop Loss: Below 544.72 to avoid further downside risk.
Breakout Confirmation Level & Key Support:
Key Support: 544.72
Breakout Level: 591.02 would indicate a bullish reversal, validating a long entry at that point.
Pro Tip for Traders:
Wait for a clear bounce from 544.72 before entering long. If the price breaks below this level, consider adjusting your strategy to a short bias.
Relevant Hashtags: