Muhammad Shakeelkhan

The technical chart for BNB/USDT (Binance Coin) reflects a significant period of bearish pressure, characterized by a steep drop from recent highs. Below is an analysis of the current market structure and key indicators.
​1. Price Action and Trend
​Current Price: BNB is trading at 758.89, marking a -2.70% decrease for the session.
​Historical Peak: The chart shows a recent swing high at 909.98, from which the price fell sharply.
​Local Bottom: The price recently touched a low of 739.63, which currently serves as the immediate support level.
​Long-term Performance: While BNB has struggled recently—dropping -11.89% over the last 7 days and -23.00% over 90 days—it remains up 15.06% on a 1-year basis.
​2. Technical Indicators
​RSI (Relative Strength Index): The RSI (6) is at 45.94. This suggests the market is in a neutral state, having moved out of the "oversold" territory but lacking the momentum to be "overbought".
​MACD (Moving Average Convergence Divergence): The MACD shows a DIF of -10.09 and a DEA of -11.78. Although the values are negative, the MACD histogram is at 1.69, indicating a slight bullish crossover or a slowing of downward momentum.
​Volume: There is noticeable trading activity near the current lows, suggesting that buyers are stepping in to defend the $740–$750 zone.
​3. Support and Resistance Levels
​Resistance 1 ($768.59): This is the first hurdle for a recovery.
​Resistance 2 ($806.07): A break above this level would signal a more significant trend reversal.
​Support ($739.63): This is the "floor". A breakdown below this could lead to a test of much lower psychological levels.
​Summary
​BNB is currently in a "wait-and-see" phase. The sharp sell-off from $900 has cooled down, and the coin is attempting to stabilize. For long-term holders, the 1-year growth remains positive, but for short-term traders, the trend remains bearish until a major resistance level is reclaimed.