The $BNB 30-minute chart (current price near $893.29) indicates a short-term consolidation phase following a notable decline from the recent high of around $928.55.
• The price is currently hovering just above a potential short-term support level near the $881.82 low, indicating buying interest at these levels.
• Moving Averages (MA): The faster MA(7) appears to be crossing below the slower MAs (MA(25) and MA(99)), suggesting that the bearish momentum, while slowing, is still a factor. The convergence of these MAs around $896 indicates a tight trading range.
• Volume: Recent Volume (VOL) bars suggest a pickup in selling pressure during the decline, but the buying volume (green bars) appears to be increasing as the price nears the support, a classic short-term market battle .
Trade Recommendation (Intraday/Short-Term):
• Buying Target (Long Entry): Consider a bounce play above $896 (breaking above the MAs), targeting $905 and $928.55. Place a stop-loss below $880.
• Selling Target (Short Entry): A decisive break and candle close below the $881.82 support could trigger a short, targeting $870 to $860. Place a stop-loss above $898. $XRP $DOGE
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