$BNB has directly broken below the 700 integer level this round, now quoted at $695, with a nearly 1% decline over the past 24 hours. From the chart, the range of 720 to 693 has formed a short-term downward channel: the highs keep lowering, and the lows are also being tested—this is a typical pattern of a slow grind lower with shrinking volume. On the daily timeframe, BNB has printed upper wicks for three consecutive days, indicating heavy selling pressure above; every time bulls tried to push back, they were pushed down again. The two most critical reference levels right now are: support at 688 to 690 below—this is the prior area of dense trading; if it breaks, the next line of defense is around 675. Resistance is capped at 708 to 710 above. Only if BNB reclaims this level on increased volume can it return to the consolidation box above 720. As for trading volume, the past 24 hours’ trading value is only $569 million, noticeably lower than the recent average; with this kind of volume backdrop, the sustainability of any rebound is questionable. Macro news also isn’t helping: on the U.S. side, Dick’s Sporting Goods has plunged, sending a signal of weak retail consumption that suppresses sentiment in the crypto market; trade friction between Iran and Canada also makes capital lean toward risk-off/hedging. As a large-cap mainstream coin, BNB remains highly correlated with Bitcoin, and Bitcoin is still in a weak rebound phase, lacking directional guidance. Overall, the short-term structure for BNB is bearish. However, as long as the 688 support hasn’t broken, it’s still not enough to conclude a trend reversal. If, after tonight’s U.S. market open, risk assets keep weakening, BNB will most likely test 688—and possibly go lower. Conversely, if 688 is held and price is pulled back up above 700 with increased volume, this pullback may be effectively over. My view is: until volume picks up, rebounds are opportunities to reduce positions; if 688 breaks, the short-side pressure accelerates—worth watching. Tell me what you think��