BNB/USDT: Approaching a Major Breakout Zone
BNB is currently testing a critical resistance zone around $670–$680, a level that has been historically significant. The monthly chart shows strong bullish momentum, with steady green candles indicating buying pressure.
A breakout above this zone could signal a major move upward, with potential targets around $750–$800, based on historical price action and Fibonacci extensions. However, to confirm the breakout, we need to see a surge in volume to validate the move.
If the breakout fails, there could be a retracement to test lower support levels, possibly around $620 or $580.
Key Points to Watch:
1. Volume Surge: A breakout without significant volume could lead to a false breakout.
2. Weekly and Daily Closes: Monitor how the price behaves on lower timeframes.
3. Market Sentiment: Keep an eye on overall crypto market trends.
What’s your take? Are we heading to new highs, or will this resistance hold strong? Let me know your thoughts! 📊
A breakout above this zone could signal a major move upward, with potential targets around $750–$800, based on historical price action and Fibonacci extensions. However, to confirm the breakout, we need to see a surge in volume to validate the move.
If the breakout fails, there could be a retracement to test lower support levels, possibly around $620 or $580.
Key Points to Watch:
1. Volume Surge: A breakout without significant volume could lead to a false breakout.
2. Weekly and Daily Closes: Monitor how the price behaves on lower timeframes.
3. Market Sentiment: Keep an eye on overall crypto market trends.
What’s your take? Are we heading to new highs, or will this resistance hold strong? Let me know your thoughts! 📊
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.