Is the price $BNB preparing to break the support level or is it just a technical rebound?
Current price: 896.28 USDT, down approximately 2.87%. BNB recently bounced from the support level of 881, but it is still trading below the 25-day exponential moving average and the 99-day exponential moving average. This indicates weakness in the short-term trend, and this rebound has not yet confirmed a trend reversal.
Entry area (Sell): 898-905 (retesting the 25/99 exponential moving averages and the local resistance level)
Targets:
First target: 885
Second target: 875
Third target: 860
Stop loss: 912
Conclusion: The trend is still bearish; it is advisable to prioritize entering sell positions during price corrections until the market structure becomes clearer.
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BNB
886.3
+1.36%