🚀 Complete Analysis of BNB as of 18-03-2024
✓ 21:10-24:00 WIB
$BNB BULLISH Jaka pendek !!!
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### **1. Current Price Position:**
- The current price is at **$624.48**, slightly below the **middle Bollinger Band (MB)** which is at **$630.28**.
- Bollinger Bands indicate quite high volatility, with the upper band at **$639.24** and the lower band at **$621.32**.
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### **2. RSI Indicator:**
- **RSI(6): 32.50** indicates that the market is approaching the oversold zone, which means there is potential for a short-term upward reversal.
- However, RSI(14) at **45.11** and RSI(24) at **50.24** indicate that momentum is still neutral, so an increase may require additional push from volume or market sentiment.
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### **3. Support and Resistance Levels:**
- **Support:** The Lower Bollinger Band at **$621.32** may act as strong support. If the price holds above this level, there is a chance for a rebound.
- **Resistance:** The Middle Bollinger Band at **$630.28** is the nearest resistance. If the price can break through this level, the chances of reaching the upper band at **$639.24** will increase.
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### **4. Trading Volume:**
- The current volume at **2,104.11** indicates fairly stable market activity. However, to push the price up to **$630**, a significant increase in volume is needed.
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### **Conclusion:**
There is a chance the price will touch **$630** again, especially if:
1. The price holds above support at **$621.32**.
2. RSI(6) shows a reversal from the oversold zone.
3. Trading volume increases to support bullish momentum.
However, if selling pressure remains strong, the price may struggle to break through resistance at **$630.28**. I recommend continuing to monitor technical indicators and candlestick patterns for further confirmation.
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