Here is a summary of the BNB chart prediction:
The Binance Coin (BNB)/US Dollar chart currently shows a strong bullish trend, reinforced by a series of 'Break of Structure' (BOS) and 'Change of Character' (ChoCH), indicating sustained buyer dominance since the end of June. The price of BNB is around 685.3 USD, nearing the 'Equal Highs' (EQH) and 'Weak High' resistance area in the range of 685-690 USD.
Main prediction: With solid bullish momentum, BNB is likely to attempt to break through the current resistance level. If successfully breached with significant volume, BNB has the potential to continue its rise, targeting prices above 700 USD or even reaching a new all-time high. Breaking through EQH often triggers a rapid upward price movement.
Alternative scenario: BNB may experience a healthy correction or temporary consolidation before continuing its upward trend. If resistance fails to break, the price could retreat to test the nearest support area at 650-660 USD (previous BOS area). The Strong Low at 580 USD is a more significant support if a deeper decline occurs.
It is important to monitor trading volume, the development of the Binance ecosystem, and overall cryptocurrency market sentiment. This prediction is based on technical analysis of the 4-hour chart and is short to medium-term in nature. Cryptocurrency trading is highly risky; always conduct your own independent research.
