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11:20 midnight
BNB is currently around 876.5, in a short-term oversold correction phase of a downtrend, but the overall trend remains bearish.
On the hourly chart, there have been consecutive large bearish candles, which have directly broken through the previous key support level, followed by a slight rebound in price at the low.
However, the rebound strength is relatively weak, and no effective reversal signal has yet formed. Overall, it is still in a downtrend.
The price has fallen below the lower Bollinger Band and is in the oversold area, which usually indicates that a technical rebound may occur in the short term.
KDJ Indicator: The J value has entered the oversold range, which is one of the signals for a short-term rebound.
MACD Indicator: DIF and DEA are still in a death cross state. Although the MACD histogram has decreased in volume, the overall downward momentum remains strong.
Support level: The current price around 872.18 is a short-term support level. If this position is lost, it may further decline to the 860 level.
Resistance level: The upper resistance is around 890. If the price rebounds to this level, it may face some pressure.
The overall trend is still downward, but since it has entered the oversold area, there is a possibility of a technical rebound. It is recommended to buy on the pullback to the 863--850 range, with the first target at 883 and the second target around 890.
The above is just personal advice and for reference only. Please refer to the operations of Haoyu Shipan as the standard #BNB $BNB