This chart shows that the BNB/USDT currency reached a level of 709.43 USDT with an increase of +3.42%, as the price approaches the upper Bollinger Band at 712.56 USDT, which may indicate temporary overbought conditions or proximity to resistance.
Quick analysis summary:
Current price: 709.43
Nearby resistance: 712.56 (upper Bollinger Band)
Averages:
MA(5): at 8026 (not accurate on the current chart and may be a multiple figure, but it indicates the strength of the momentary uptrend).
MA(10): at 7234.81, the price is above it which confirms the upward trend.
RSI: Not displayed in the image, but from the chart, we notice its proximity to overbought areas often.
Recommendation:
If you are in the trade, monitor the area of 712-715 USDT for selling or to lighten the contracts.
If 712 USDT is broken firmly with strong trading volume, there is a possibility of targeting 720-725 USDT.
If reversal candles or weakness in volume appear, a correction may occur to the level of 700-702 USDT.
BNB
895.46
+1.19%