- Binance Coin has seen steady accumulation since March
- Swing traders can wait for a dip in the direction of the middle range.
Exchange token binance coin [BNB] Recently saw a tree in the activity of the chains on the Binance Smart Chain. The Dex volume on BSC saw a huge walk in May and climbed to a remarkable $ 178 billion. Bullish news about the basic principles may not be enough to put BNB on a sustainable upward trend in the coming weeks. Especially since it was traded within a range at the time of the press.
The range, which extends from $ 531 to $ 725, has been in force since December 2024. BNB has still not broken out out of reach. In recent months it saw an increase in buying volume, and this led to some hope among bulls.
BNB investors may not be enthusiastic, but traders find opportunities
Source: BNB/USDT on TradingView
The market structure and trend of BNB were Bullish on the 1-day graph. This could be useful information for swing traders, but investors in the long term would probably be frustrated by the long consolidation phase.
The middle range level at $ 628 coincided from November together with a bullish order block. Since then, this area has been respected, although it has served both a supply and supply zone.
During the past 10 weeks, the BBV has steadily risen on the time frame of 1 days, which shows accumulation. This could push a bullish for BNB to propel the range of $ 725 high.
The RSI was 49 and was able to slide lower, but this will not be great concern. The market structure was still bullish. A fall below the $ 63 mark would be the first sign of a bearish trend shift.
The 3 -month liquidation heat emphasized a spare of liquidation levels of remarkable size around the market price of the press.
The $ 630 and the $ 700 zones are attractive goals, but their liquidity has not been as high as what we saw at the beginning of May at $ 650. That is why an explosive movement would need more time to materialize.
The 2 -week graph conquered the upper half of the range as a place where BNB Swinghandelers can find abundant opportunities. The magnetic zones for $ 640 and $ 690 would be the following price goals.
That is why BNB Bulls can wait for a dip up to $ 630- $ 640, to go for a long time and to make a win around $ 690 mark. Disadvantaged Bitcoin [BTC] Momentum can ruin this setup and lead to long -term losses under the $ 630 support zone.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer