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#BNB#analysis

Chart Analysis Highlights:

1. Trend & Moving Averages:

MA(7) = 646.17 (yellow) and MA(25) = 645.84 (magenta) are currently below the price, indicating short-term bullish momentum.

MA(99) = 635.34 is also acting as support, suggesting price is trading above the long-term trend line.

2. RSI(6) = 62.20

RSI is in bullish territory but not overbought. This indicates further upside potential.

3. Support and Resistance:

Support = $633.51 (recent low).

Resistance = $653.75 (24h high) and stronger at $672.00.

4. Price Action:

Price formed a double bottom around $633.51 with a strong recovery, suggesting a reversal.

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Suggested Trade Plan:

Entry Point: Around $648–$650 (price is near entry, wait for a slight retracement or confirmation of breakout above $653.75).

Take Profit (TP): $670–$672 (previous resistance zone).

Stop Loss (SL): $639 (below recent lows and MA(25) to protect against downside).

Risk-Reward Ratio: ~1:2