BNB is in a corrective phase after failing to maintain the upward momentum from the resistance area of $708. Although there was an attempt to recover from the strong support at $675, this coin is currently facing many significant technical barriers, especially around the $692 level.

📉 BNB Price Is Facing Difficulties

After a solid increase and hitting nearly $710, BNB's price was unable to surpass this resistance area and began to adjust downwards. Unlike Bitcoin and Ethereum, BNB has recorded a noticeable decline, breaking through support levels of $690 and $680.

The price hit a low of $674 before a slight recovery. Currently, BNB is trading below the $690 mark and is under the 100-hour simple moving average (100-SMA), indicating that selling pressure remains quite strong.

📊 Current Resistance: $692 – Important Barrier

BNB is facing its first resistance level at $692 — coinciding with the main downward trend line that is forming on the hourly chart. If it cannot surpass this area, the recovery may end and give way to another wave of selling.

If it crosses $692, the next resistance area will be around $695 (which is also the 61.8% Fib level of the drop from $707 to $674). Surpassing this level, BNB could quickly rise back to the $708 area, and if it closes above $708, the next target will be $720, even $732.

🔻 Bearish Scenario May Occur

If BNB fails to break the resistance level of $692, it is highly likely that the price will reverse downwards. The nearest support levels are $682 and $680.

Most importantly, the area around $674 – if this level is lost, the downtrend could extend to $665, and further down to the $650 area – a key support region on a larger timeframe.

📉 What Are Technical Indicators Suggesting?

  • MACD (Hourly Chart): Losing momentum in the bullish zone, indicating weakening buying power.

  • RSI (Relative Strength Index): Currently below 50, indicating that sellers are dominant in the short term.

📌 Important Summary

🔮 Conclusion

BNB is currently at a decisive turning point. If it can break through $692 and $695, the market may regain upward momentum and head towards $708 – $720. However, if it fails to break this resistance level, selling pressure may return, pushing the price back to the $674 area or lower.

📌 Investors should closely monitor the price reaction at the $692 – $695 range in the coming hours to make appropriate decisions. $BNB