Primary trend still points lower
Despite the recent rally, BNB remains in a primary downtrend. The chart continues to respect lower highs, with buyers now facing the first major resistance zone around $590.
Moving averages remain bearish
The 100/50-day EMAs remain bearishly crossed, with price still trading below both averages. Until those EMAs are reclaimed, the broader technical picture continues to favour the bears.
Resistance overhead
The $590 area has repeatedly acted as resistance since June, making this an important test for the recovery. A convincing break and close above would shift the focus towards the next resistance around $630.
Support holding for now
Initial support around $555.59 has successfully attracted buyers on multiple occasions. Holding above this level keeps the current recovery alive, while a break below would increase the risk of a retest of the significant $537.25 low.
Momentum improving
RSI has moved back above the 50 level, suggesting momentum is beginning to favour the bulls, while StochRSI is rising towards overbought territory. Volume remains relatively neutral, meaning a breakout may require stronger buying participation.
In Summary
BNB has staged an encouraging recovery, but the first real test has now arrived at the $590 resistance zone. While momentum has improved and support at $555.59 continues to hold, the 100/50-day EMAs remain bearishly crossed and the broader trend is still down. Bulls need a decisive break above $590 to strengthen the recovery, with $630 becoming the next major upside objective.
Despite the recent rally, BNB remains in a primary downtrend. The chart continues to respect lower highs, with buyers now facing the first major resistance zone around $590.
Moving averages remain bearish
The 100/50-day EMAs remain bearishly crossed, with price still trading below both averages. Until those EMAs are reclaimed, the broader technical picture continues to favour the bears.
Resistance overhead
The $590 area has repeatedly acted as resistance since June, making this an important test for the recovery. A convincing break and close above would shift the focus towards the next resistance around $630.
Support holding for now
Initial support around $555.59 has successfully attracted buyers on multiple occasions. Holding above this level keeps the current recovery alive, while a break below would increase the risk of a retest of the significant $537.25 low.
Momentum improving
RSI has moved back above the 50 level, suggesting momentum is beginning to favour the bulls, while StochRSI is rising towards overbought territory. Volume remains relatively neutral, meaning a breakout may require stronger buying participation.
In Summary
BNB has staged an encouraging recovery, but the first real test has now arrived at the $590 resistance zone. While momentum has improved and support at $555.59 continues to hold, the 100/50-day EMAs remain bearishly crossed and the broader trend is still down. Bulls need a decisive break above $590 to strengthen the recovery, with $630 becoming the next major upside objective.
I analyse markets by observing levels, patterns, and structure. I share my process and reasoning for educational purposes, helping readers understand market behaviour without giving advice or predictions.
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.
I analyse markets by observing levels, patterns, and structure. I share my process and reasoning for educational purposes, helping readers understand market behaviour without giving advice or predictions.
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.