$BNB

🎯 Technical Analysis of BNB – Are We Approaching a Distribution Top?

After monitoring the recent movement of BNB, it seems we are in a concerning overbought phase, and the numbers don't lie:

📊 Technical Indicators:

The RSI on the daily timeframe exceeds 75, indicating a clear overbought area.

The MACD shows signs of a potential negative crossover, similar to what happened before the recent drop from 720 to 580.

The price broke with the shadow of a candle at the level of 845, which is a historical resistance area dating back to the peaks of May, without a strong close above it.

The trading volume is increasing but without strong new momentum, which may indicate distribution rather than accumulation.

📉 Price Analysis:

It is clear that BNB is moving in a short-term upward channel within a larger corrective wave that began after reaching 725.

Fibonacci from the bottom of 470 to the top of 725 gives us 0.786 at 855 – a fierce resistance that has not been broken with a close yet.

Any failure to exceed 855-860 with a daily close may push the price to retreat towards:

780 as the first (quick) support

Then 725-740 as critical support areas

🚨 Summary:

BNB may be in the process of forming a distribution top, especially with pressure from Bitcoin and fluctuating market dominance. Caution is necessary, and prudence is a virtue.

🧠 "The smart one does not buy at the tops, but watches the tops being sold!"