BNB/USDT Analysis – Potential Next Movement!

BNB is currently trading at $578, with a 24-hour high of $613.71 and a low of $571.13. Here are some technical analysis points based on the 1H chart:

🔹 Support & Resistance

Strong support: $524 - $540

Major resistance: $660 - $793

🔹 Market Trend & Structure

After reaching a high of $793, the price experienced a significant correction.

The price is still moving within a sideways range with bearish pressure.

If BNB can break out above $600, bullish potential towards $660 - $700 is open.

Conversely, if it drops below $540, it could retest the support area at $500 - $520.

🔹 Trading Strategy

✅ Breakout Trader: Wait for confirmation of a breakout above $600 before entering long.

✅ Range Trader: Can buy near support $540 - $560 with a short-term target of $600 - $620.

✅ Risk Management: Stop loss should always be adjusted according to individual strategies.

⚡ Conclusion: Currently, the market is still in a consolidation phase. The next movement will heavily depend on whether BNB can break through resistance or return to the nearest support.

What are your views? Bullish or bearish for BNB in the near future? 🚀👇

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