$BNB
Based on the BNBUSDT Perpetual daily (1D) chart from Binance, here is the technical analysis for February 12, 2026:
1. Market Trend & Price Action
Strong Bearish Momentum: The chart shows a massive sell-off starting from late January. BNB plummeted from the $900 range to a local low of $572.
Current Bounce: Today’s price action shows a recovery of +4.85%, currently trading at $618.03. However, this appears to be a "relief rally" or a "dead cat bounce" rather than a full trend reversal, as it follows a very steep vertical drop.
Moving Averages (MA): The price is trading well below the MA(25) at $777 and MA(99) at $864. The immediate overhead resistance is the MA(7) at $632, which the price is currently struggling to reclaim.
2. Volume and Sentiment
Volume Spikes: There was a massive spike in red volume bars during the crash, indicating heavy liquidation and high-conviction selling. The current green volume for the recovery is relatively lower, suggesting buyers are still cautious.
Order Book Sentiment: Your screenshot shows 58.73% Short vs. 41.27% Long. This indicates that the majority of traders are still betting on further downside, which can sometimes lead to a "short squeeze" if the price manages to break upward suddenly.
3. Key Levels to Watch
Immediate Resistance: $632 - $640. If BNB cannot close a daily candle above this zone, the bearish trend will likely resume quickly.
Critical Support: $572. This is the recent bottom. If this level fails to hold on a retest, the next psychological support level is near $500.
Long-term Resistance: $777 (MA 25). This is the "line in the sand" for a return to a neutral/bullish outlook.
Summary
The market is currently in a "oversold" state, which explains the small bounce today. However, the overall structure remains bearish. Until BNB can stabilize above $640 and turn the MA(7) into support, any upward movement should be treated with caution.