Technical analysis by Mentor_Michael03 about Symbol BNB: Buy recommendation (7/24/2025)

“BNBUSD Educational Breakdown – Support Rejection with $846 Target in Sight” Market Structure Overview: BNBUSD is exhibiting a bullish market structure after forming a textbook higher low at the major demand zone near $740–$750. This zone has been historically significant, offering strong rejections and triggering aggressive bullish rallies. A new bullish wave appears to be forming after price respected the ascending trendline and reclaimed the supertrend level, now acting as dynamic support around $782.2. ⸻ 🔧 Technical Confluences: •Support Zone: Highlighted between $738–$750, serving as a demand base. Recent price rejection here confirms buyers’ dominance. •Trendline Support: Price has respected an ascending trendline, signaling short-term trend continuation. •Supertrend Confirmation: Trend flip has occurred—price is now trading above the Supertrend line, indicating a fresh bullish momentum phase. •Break of Structure (BoS): Minor resistance around $784–$790 was breached, suggesting bullish continuation. ⸻ 🎯 Target Projection: Using recent swing highs and market symmetry, the next logical resistance lies at $846.9, aligning with the previous supply zone. This target also fits within the measured move from the support base to previous highs. ⸻ 📈 Trade Plan (Educational Only): •Long Bias Zone: Between $770–$780 •Invalidation Level: Below $738 (loss of support structure) •Target: $846.9 •Risk-Reward: Roughly 1:2.5 – favorable for swing traders ⸻ 📚 Educational Note: This chart is an excellent example of: •Structure trading (support/resistance) •Trend confirmation using a dynamic indicator (Supertrend) •Risk-managed entries with clearly defined stop-loss and take-profit zones.