Massive Long Liquidation Hits $BNB at $656.31 – What’s Next?
A powerful $6,220.9K long liquidation just swept through Binance Coin (BNB) at the $656.31 level, shaking up the market. This sharp flush could be the calm before the storm as BNB prepares for its next major move. The bulls have been dominant lately, but this liquidation might signal an upcoming shift or simply a reloading phase before continuation.
Current Market Sentiment:
$BNB is showing signs of temporary exhaustion near the $655–$660 zone. However, the strong fundamentals and bullish macro structure remain intact. With this liquidation, smart money may be looking to trap late longs and buy lower.
BNB Trading Strategy – Unique Analysis
Buy Zone:
$628 – $638
This is a key area of interest where demand may resurface. Watch for consolidation or a sweep of previous lows for confirmation.
Targets:
1. Target 1: $665 – Short-term resistance
2. Target 2: $688 – Strong historical supply
3. Target 3: $710 – Extension level if momentum picks up
Stop Loss:
Below $615
If price loses this level with volume, it would invalidate the current bullish structure.
Technical View:
The recent liquidation signals a liquidity grab.
RSI is cooling off from overbought levels, hinting at a healthy pullback.
Daily support near $630 has held firm multiple times in the past.
If bulls reclaim $660 with strength, expect acceleration toward $700+.
Conclusion:
$BNB remains in a strong uptrend despite the shakeout. This liquidation may offer a golden entry for those who missed the earlier move. Stay sharp, manage your risk, and let the market come to you.