$BNB saw a short squeeze around $892.96, forcing traders with bearish positions to cover, which caused a sharp upward move.
Price Action:
Immediate support is around $890–$893, where shorts were liquidated.
Resistance is near $900–$905, which could act as a cap for the short-term rally.
Market Implications:
The liquidation reflects strong buying momentum and short-term bullish pressure.
Watch for consolidation or minor pullbacks near resistance before continuation.
Short-Term Bias: Bullish, with momentum favoring buyers after the short squeeze.
BNBUSDT
Perp
833.94
-3.83%