Based on the BNBUSDT perpetual futures chart, the current trading price is $600.29, reflecting a 0.98% decline. In the last 24 hours, the price has reached a high of $610.80 and a low of $597.53, indicating a short-term bearish trend. The 1-hour candlestick chart shows that BNB has dropped below the moving averages — MA(7), MA(25), and MA(99) — which currently act as resistance levels. The price is attempting a minor rebound from the $597.53 support level, but momentum remains weak.
The RSI(6) is at 39.39, suggesting slightly oversold conditions, but not yet indicating a strong reversal. Volume has picked up slightly at the recent bounce, hinting at possible short-term buyer interest. However, to confirm a bullish reversal, the price must reclaim levels above $605 and sustain movement above the short-term MA(7) and MA(25). If the price fails to hold $597, further downside may target the $590 area.
Traders might consider a short-term long position only if there is strong confirmation above $605 with volume support. Conversely, a short position could be considered below $597 with a target of $590–$585, accompanied by a strict stop-loss near $605. Risk management is essential due to the narrow price range and recent downtrend.