$BNB Update

$BNB is currently trading around $587.81, and over the last 24 hours, the trend has clearly been bearish with noticeable selling pressure...
Looking at the moving averages, the 7 EMA is at $598.77 and the 25 EMA is at $612.78. Since the price is trading below both levels, it confirms short-term bearish momentum..
From a Bollinger Bands perspective, the price is also below the middle band ($612.40), which suggests continued downside pressure. The lower band sits at $591.15, while the upper band is positioned at $633.64....
Key Levels to Watch
Support level:
The immediate support level is around $591.15, aligning with the lower Bollinger Band. If price breaks below this level, we could see further downside.
Resistance level:
On the upside, the first resistance is near $598.77 (7 EMA), followed by stronger resistance around $612.78 (25 EMA).
Overall View of BNB
On the 1-hour chart, BNB remains in a bearish structure. Indicators suggest that selling pressure is still present, so these support and resistance levels will be crucial for short-term price action.
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