Technical analysis based on the attached images
Price and Trend: The images show that the price of BNB experienced a significant decline between July 31 and August 1, 2025. The price dropped from around $802.56 on July 31 to $771.35 on August 1.
Support and Resistance:
Resistance Level: The image shows that the highest price within 24 hours was $814.80 on July 31 and $814.00 on August 1, indicating that this range represents a strong resistance area currently.
Support Level: The lowest price the coin reached on August 1 was $756, making it a critical support level to watch.
Technical Indicators:
Relative Strength Index (RSI): The RSI indicator significantly dropped from 58.52 on July 31 (neutral level) to 41.95 on August 1 (downward leaning level), reflecting increasing selling pressure in the market in the short term.
Moving Averages (MAs): On August 1, the current price ($771.35) was below the 7-day moving average ($802.07), confirming that the short-term trend has turned bearish.
Forecast (Up or Down?)
In the short term (downward): Based on the immediate data from the images and current analyses, BNB is expected to continue in a correction or fluctuation phase. The decline in price and RSI indicate downward momentum, which could push the coin to test lower support levels like $756, and if broken, it may trend towards lower levels.
In the long term (potentially upward): Despite this correction, the overall long-term outlook for BNB remains positive due to the strong fundamentals of the project. The coin burning mechanisms and its central role in the Binance ecosystem, along with the growth of the BNB Chain network, all support the currency's value in the long term. This decline may be an opportunity for long-term investors.