The image shows a technical analysis of the BNB/USDT pair on a 4-hour timeframe of $BNB #ETHBreaks3k . Here is the technical summary:
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📊 Technical Summary:
Current Price: 685.11 USDT
Daily Decrease: -1.17%
24-hour High: 693.96
24-hour Low: 675.30
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🧠 Price Action Analysis:
Nearby Resistance: 687 - 693 USDT
Nearby Support: 677 - 674 USDT
Local Low: 667.25
Local High: 707.54
The price is bouncing upwards after touching the 200-day moving average (MA200 in purple at 655.92), which is considered a strong support signal.
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📉 Moving Averages:
MA(9): 687.09 (above current price = short-term negative pressure)
MA(55): 677.81 (below price = good medium-term support)
MA(200): 655.92 (strong long-term support)
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🔍 Technical Reading:
Short-term trend: Bearish with the beginning of an upward rebound
Recent candles: Showing buying power after the correction
Possibility of a rebound: High if the price maintains the 677 level as support
If 687.09 is breached upwards, the price may target the 693 and then 700 levels
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✅ Conclusion:
A speculative buying opportunity is possible if the price holds above 677 and targets 687 – 693.
Suggested stop loss: Breaking 674 downwards.
Selling opportunities: only appear when 687 fails to break or 674 breaks again.
