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! 📊
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