$BNB Technical Analysis & Spot Trading Strategy

Technical Analysis:

BNB is currently trading around $633.25, facing strong resistance at $640. A breakout above this level could push prices towards $672, while a rejection may lead to a pullback toward $605 support. The RSI is near 60, indicating moderate bullish momentum, and the 50-day moving average suggests an uptrend continuation.

Spot Trading Strategies:

1. Range Trading – Buy near $605 support, sell at $640 resistance.

2. Breakout Trading – Enter long positions if BNB breaks above $640, targeting $672.

3. Scalping – Trade small price fluctuations with quick entries/exits using short time frames.

Risk Management:

Stop-loss: Set below $600 to limit downside risk.

Take-profit: Adjust based on risk-reward, ideally near $672 resistance.

Diversification: Avoid overexposure to a single asset in volatile markets.

Always conduct your own research before trading, as cryptocurrency markets are highly volatile.