BNB Technical Analysis!📊
--- Is a breakthrough just around here? Let us create some talking charts.
Hello Binance Fam! 👋
After just completing a 1H timeframe analysis of the BNB/USDT chart,📈
I wanted to offer some ideas and also get YOUR opinions!💡
I am seeing this here:
Key Resistance:
Between $606 and $607. Price has tested this level several times but cannot yet break through. Strong upward support trend around $588–589.
RSI:
Bulls losing steam or gearing up for a breakout; right now, sitting close to 76 indicates overbought territory. Right now we have a declining triangle with a limited range. We might see a clear upward movement if bulls break above the resistance using consistent volume.
Should they fall short, a retest of support at $588 is probably in store. My perspective is to wait for the breakthrough; – if the price breaks above $607 with strong volume, I’ll be looking to enter a spot trade targeting $620+. For a safer entrance, I will thus look for a bounce from the lower trendline.
In what way do you suppose?
Will BNB break out or revert?
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