๐จ BINANCE SQUARE CHART ALERT: BNB/USDT SEES SHARP CORRECTION ๐
The BNB/USDT pair has experienced a significant red candle following its recent parabolic rally, currently trading around $829.94โa -5.20% drop in 24 hours!
๐ Key Chart Watch:
Recent High: The chart shows a spike up to around $899.75 (24h High), suggesting massive selling pressure has now kicked in.
Volume Spike: The drop is accompanied by a high volume bar, confirming significant distribution or profit-taking.
MA Support Test: Price is currently testing the area above the MA(7) (871.48) and heading towards the next key support at the MA(25) (648.42) on the 1 Month timeframe.
โ ๏ธ What to Watch:
The critical level is to hold above the MA(25). A break below the 7-period Moving Average on this time frame signals a potential shift from strong uptrend to a corrective phase. Traders should monitor for capitulation or a bounce off lower support zones.
24h Stats:
High: $899.75
Low: $827.59
Keep a close eye on the market structure! This is a major pullback after a strong run. ๐
