BNB is currently showing signs of consolidation around the $650-$660 range. Technical analysis suggests it's in a rising trend channel in the medium term, indicating underlying optimism. Key support is identified around $650, while resistance lies near $690.
Short-term traders might look for a price reversal near $633 for long positions, with a stop-loss below $597 if the wave count is invalidated. Breaking above $660 with good volume could signal a push towards $670 or higher. Conversely, a sustained break below $650 might lead to a retest of lower support levels. Keep an eye on the Maxwell hardfork upgrade, as it could further bolster bullish sentiment for BNB.
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