Analysis... Here’s a quick technical analysis of the BNB/USDT chart based on the image:
1. Current Price & Trend
Price: $588.62
Change: -1.16% (daily)
Price is currently below the 25-day MA (591.19) and the 99-day MA (625.80), which suggests a generally bearish trend in the medium to long term.
However, price is slightly above the 7-day MA (585.99), indicating short-term buying pressure or possible consolidation. 2. Moving Averages
MA(7) < MA(25) < MA(99): This bearish alignment confirms the current downtrend in higher timeframes.
Short-term movements are showing signs of recovery or consolidation, but the longer-term trend remains bearish unless price breaks significantly above the 625–635 range.
3. Volume
Volume has dropped compared to late March (where it peaked).
Current volume is relatively low (~74M), indicating weak conviction behind recent price action.
4. Support & Resistance
Support: ~$567–570 (recent lows and consolidation zone).
Resistance: ~$591 (MA25) and ~625 (MA99).
Local top: $644.88 (needs to be broken for a strong bullish reversal).
5. Performance Overview
Today: -1.19%
7 Days: -0.12% (nearly flat)
30 Days: -3.78%
90 Days: -15.58%
1 Year: +7.37%
The 1-year gain shows long-term holders are still in profit despite recent drops.
How to do crypto trading? 😳 Crypto trading involves buying and selling cryptocurrencies to make a profit. Here’s a beginner-friendly guide help you get started:
Step-by-Step Guide to Start Crypto Trading
1. Learn the Basics
Understand key terms:
Cryptocurrency: Digital money (e.g., Bitcoin, Ethereum)
Exchange: Platform to buy/sell crypto (e.g., Binance, Coinbase)
Wallet: A place to store your crypto securely
Spot trading: Buy/sell crypto immediately at current price
Futures trading: Contract to buy/sell crypto at a future date
2. Choose a Reliable Exchange
Popular platforms:
Binance (best for global users)
Coinbase (user-friendly for beginners) Kraken, Bybit, KuCoin
Sign up and complete KYC (identity verification).
3. Fund Your Account
Deposit fiat money (USD, BDT, etc.) using bank or card
Or transfer crypto from another wallet
4. Start Spot Trading
Example: Buy BTC/USDT
1. Go to the “Trade” or “Spot” section
2. Choose a trading pair (e.g., BTC/USDT)
3. Set your order:
Market order (buys instantly)
Limit order (buys at your chosen price)
5. Use Basic Trading Strategies
Buy Low, Sell High: Classic way to profit
Dollar-Cost Averaging (DCA): Invest small amounts regularly
HODLing: Buy and hold long-term
6. Advanced Options (Optional)
Futures/Margin Trading: High risk, high reward (only for experienced users)
Binance is an international cryptocurrency exchange platform, where you can do more than a thousand digital currency transactions, including Bitcoin, Etherium, Tither.
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How does bainan work work?
Binean is an online marketplace where cryptocurrency can be purchased, selling, trading, steaking, and investment. You can also get interest by depositing your cryptocurrency here if you want.
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Why do we use bainans?
1. Reliability and security Bineans have 2-FA, KYC, and other security systems for users' safety.
2. Low trading fees Trading fees are much lower than other exchanges.
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3. User-friendly mobile and web app The binan app is very simple and usable for newcomers.
3. Futures and Margins Trading Bineans have Futures and Margin Trading facilities for experienced traders.