$BNB

Price Targets: Will $650 Hold or Break?

Using Fibonacci-based trend analysis, the bearish continuation could push BNB below the psychological $650 mark. If this happens, the token could test key support at $628 and the 200 EMA at $623. This region serves as a crucial support zone that may trigger a reversal if buyers step in.

On the flip side, a strong recovery from $628 could allow the coin to retest $675 and challenge higher resistance levels. If bullish sentiment returns, particularly in response to dovish signals from the upcoming FOMC meeting, BNB could aim for $708, with the psychological $750 mark as the next major target.

Binance Coin Price Analysis: Triangle Breakdown and Bearish Signs

BNB recently hit a 7-day low of $637 but rebounded to sustain its position above the 100-day EMA. However, the current recovery is facing resistance at the 61.80% Fibonacci retracement level of $674.95, suggesting a potential continuation of the bearish trend.

The symmetrical triangle breakdown in the larger picture further supports the bearish outlook. This intraday recovery may simply be a retest of the broken triangle, with rejection at the $679 level hinting at further downside.

Additionally, the 20 and 50 EMA lines are approaching a negative crossover, while the 4-hour RSI remains below the halfway mark. These indicators reinforce bearish dominance and suggest that selling pressure may persist.