📌 Market overview
Current price: $654.77
24h volatility: +2.26%
Highest price of the day: $674.33
Lowest price of the day: $640.29
24h trading volume: Increased by 35% compared to the previous day
Market capitalization: $107.3 billion
All-time high (ATH): $793.69 (December 2024)
BNB is showing strong upward momentum, surpassing the important resistance level of $650. Trading volume increased by 35% compared to the previous day, indicating significant interest from investors. The Ethereum Pectra upgrade and positive macro factors are supporting the altcoin market, including BNB.
📈 Technical analysis
Near resistance: $670
Strong support: $620
RSI (4H): 65 – not yet in the overbought zone
MACD: Heading towards a bullish crossover
Ichimoku Cloud: Price is above the cloud, supporting the upward trend
Bollinger Bands: Upper band is expanding, price testing the upper band at $670
The 4-hour chart shows BNB forming a symmetrical triangle, which is often a sign of a strong breakout. If the price surpasses the $670 level, it may continue towards $700.
📊 Trading strategy
Scenario 1 – Open Long Position
Entry reason: Price exceeds the resistance level of $650 with strong trading volume, confirming the upward trend.
Entry zone: $650 – $660
Stop-loss (SL): $620 (Below the nearest support)
Take-profit 1 (TP1): $670
Take-profit 2 (TP2): $700
Success probability: 80% (Based on technical signals and strong cash inflow)
Scenario 2 – Open Short Position
Entry reason: Price cannot maintain above $670 and shows signs of a downward reversal.
Entry zone: $670 – $680
Stop-loss (SL): $690 (Above the nearest resistance)
Take-profit 1 (TP1): $640
Take-profit 2 (TP2): $620
Success probability: 60% (Based on the likelihood of a correction after a strong upward movement)
Note: The market is in an excited state; tight risk management is needed and closely monitor technical signals.
📰 Featured news
BNB ETF: VanEck has filed for approval to launch a BNB ETF, which could attract substantial capital inflow from institutional investors.
Reduce gas fees: CZ, the founder of Binance, has proposed reducing gas fees on the BNB Chain to compete with Solana and Ethereum.
Price forecast: Standard Chartered predicts that BNB's price could reach $2,775 by 2028, an increase of over 360% from the current price.
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🔗 Trade BNB