$BNB just tested the floor we flagged — and it cracked, briefly.
$739.61, down 2.01% today, after dipping to $737.28. That's below the $738 support from my last BNB post, though buyers dragged it back above $738 for now. A dip below and a close below are not the same thing — but a third test in days tells me buyers are getting tired here.
I'm leaning cautious, not bearish yet. CoinDesk's Oct 29 derivatives read said BNB open interest rose 1.7% as price fell, volume surged 70%, and funding flipped to the most negative among top coins. That's shorts pressing, not longs piling in with confidence. Yet real usage hasn't vanished: BNB Chain still led weekly active users at 18.9M, nearly double $SOL at 9.7M. That gap is why I'm not calling the range dead on one wick.
If $761 holds as the ceiling and $737.28 breaks on a close, the $738-$761 range is gone. If $738 holds again, the bounce case lives.
Data: Finnhub, 1:16 AM PKT; Binance News cross-check ~$739.83.
Your call — does $BNB hold $738 again, or does this test finally break? Drop your number below.
Not financial advice. DYOR.
#BNB #CryptoTrading
$739.61, down 2.01% today, after dipping to $737.28. That's below the $738 support from my last BNB post, though buyers dragged it back above $738 for now. A dip below and a close below are not the same thing — but a third test in days tells me buyers are getting tired here.
I'm leaning cautious, not bearish yet. CoinDesk's Oct 29 derivatives read said BNB open interest rose 1.7% as price fell, volume surged 70%, and funding flipped to the most negative among top coins. That's shorts pressing, not longs piling in with confidence. Yet real usage hasn't vanished: BNB Chain still led weekly active users at 18.9M, nearly double $SOL at 9.7M. That gap is why I'm not calling the range dead on one wick.
If $761 holds as the ceiling and $737.28 breaks on a close, the $738-$761 range is gone. If $738 holds again, the bounce case lives.
Data: Finnhub, 1:16 AM PKT; Binance News cross-check ~$739.83.
Your call — does $BNB hold $738 again, or does this test finally break? Drop your number below.
Not financial advice. DYOR.
#BNB #CryptoTrading
