๐ก $BNB /USDT
Support zone pierced โ can Binance Coin hold $620 or will it spiral lower?
๐ Current Price: $627.08 (-1.13%)
๐ 1H Chart Breakdown:
BNB broke through the $630โ$636 demand zone with a sharp dump to $621.94 before a weak bounce. Price remains firmly under all major MAs, confirming a short-term bearish structure.
๐ Moving Averages:
โข MA20: $636.37
โข MA50: $641.29
โข MA99: $643.02
BNB is trading below all moving averages โ a clear bearish alignment suggesting continued downside risk unless reclaimed.
๐ Market Behavior:
Aggressive selling pushed price through the floor on a volume spike. Although a small bounce followed, thereโs no bullish momentum to reclaim broken support just yet. Sideways chop or continuation could follow.
๐ฅ Momentum Snapshot:
โข Volume surged on the breakdown
โข Lower highs and lower lows dominate structure
โข Bearish MACD/RSi likely confirmed (though not visible)
๐งฑ Key Levels:
โข Resistance: $636 โ $643
โข Support: $621.94 โ $610 โ $595
๐ Recommendations:
๐ป If $621 breaks again, expect continuation toward $610, with $595 as deeper support if BTC also weakens.
๐ If bulls reclaim $636, a move toward $643 (MA confluence zone) becomes more probable.
๐ Consolidation Scenario:
Price could range between $621โ$636 in the short term if neither side dominates. Watch volume closely for breakout signals.
โ ๏ธ DYOR โ A failed bounce from $621 could lead to a sharper drop. Trade the level, not the hope. Use stops, scale entries, and prepare for volatility.
Will Binance Coin stabilize or bleed further with the market? Letโs hear your take below! ๐
