$BNB is currently trading at $750.13, marking a -2.94% decline after a sharp rejection from the local resistance at $765. The 15-minute chart reveals a high-volume sell off that broke through immediate support levels, triggered likely by profit-taking after the recent rally to $778.
This correction reflects a temporary shift in market sentiment as short-term traders exit positions, pushing the price below key moving averages.
Technically, the momentum favors the bears in the short term; the MACD indicator shows a clear bearish crossover (DIF < DEA) with a negative histogram, confirming sustained selling pressure. However, the price is currently consolidating around the $747 - $750 zone, attempting to establish a floor. The selling volume, while initially high, is showing signs of stabilizing, suggesting that the aggressive dumping phase may be pausing.
Looking ahead, the $747 level is the critical line in the sand; if BNB holds this support, we can expect a bounce back toward $760 to retest the breakdown zone. Conversely, a failure to defend this level would likely drag the price down to test the 24h low of $736. Traders should wait for a confirmed candle close above $755 before anticipating a bullish reversal, as volatility remains high.
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