Hey fellow traders. Earlier today, I shared my thoughts on BNB’s fundamentals and took a look at the volume data. Now, I want to dive into the technical side. Let’s break down what’s actually happening with the price right now in a simple way.
The Big Picture (Daily Timeframe)
If you look at the daily chart, you’ll see a pretty strong Supply zone sitting up there. Plus, there’s an unfilled Fair Value Gap (FVG). I see these areas as magnets for the price. Basically, it tells me that there’s still some sell pressure waiting if the price tries to pump too hard without a solid break or consolidation.
Getting Technical (4Hour Timeframe)
Zooming in to the 4H chart, I’ve plotted the Fibonacci Retracement, and it looks interesting. Right now, BNB is playing around the 61.8% level, which is right around $658.94.
This is what we call the golden ratio. If the price can hold up here and bounce, it’s a solid bullish sign. With the SMA 50 and SMA 200 also in the mix, it looks like BNB is just in a healthy consolidation phase for now.
My Game Plan
It’s easy to panic when the price gets stuck, but for me, this is just a time to be patient. Trading isn’t about guessing where the price goes it’s about having a plan.
Bullish side: If BNB stays above $658.94, my next target is that Supply zone on the daily timeframe.
Bearish side: If the price dips below $640, I’ll probably just step back and wait to see what happens next.
Want the full story?
Technical analysis is only half the battle. In my previous post, I already broke down the fundamentals, volume data, and heat maps that actually shaped this technical view. Check out the full deep dive here.
@rizqimaruf/bnb-market-update-resisting-key-levels-the-x402-catalyst-jem
Anyway, what do you guys think? Is BNB going to keep pushing up, or are we in for a little correction first?