$BNB /USDT – BEARISH PRESSURE DOMINATES AS PRICE BREAKS BELOW KEY SUPPORT!
Market Outlook:
Binance Coin ($BNB ) is currently showing bearish momentum as price action slips below the key support zone of $650. With increasing selling pressure and lower highs forming, the market is leaning towards further downside unless strong buying interest steps in.
Current Price: $645.69
Previous Close: $660.00
Price Range: $661.56 (High) – $645.69 (Low)
Key Levels:
Immediate Resistance: $650 – $660
Next Resistance Zone: $665 – $675
Major Support Zone: $640 – $630
Critical Breakdown Level: $638
Trade Setup – SHORT Position:
Entry: $648 – $650 (on any weak bounce)
Take Profit (TP):
TP1: $640
TP2: $634
TP3: $628
Stop Loss (SL): $662
Technical Notes:
The price is showing weakness as it fails to reclaim the $660 level, which was previously acting as short-term support. The breakdown below $650 with increased volume suggests bearish continuation. RSI likely below neutral zone, further confirming weakness.
Risk Management:
Always use a proper SL, and only risk 1–2% of your capital per trade. Do not chase the trade after the entry zone has passed. Watch for fakeouts near support levels.
#BNB #CryptoTrading #TechnicalAnalysis #BearishSetup #Altcoins
