BNB is showing signs of weakness, with resistance at 790 capping gains. Short-term outlook remains bearish $BNB
The four-hour candle has just closed. BNB slipped from 787.44 to 786.43, down a modest 0.13%. It may not look like much, but a closer look at the 15-minute candles tells a different story.
Over the past hour, the highs of the four 15-minute candles fell from 788.84 to 787.75, while the lows dropped from 787.81 to 786.42. Closing prices also tumbled from 788.06 to 786.43. This isn’t consolidation—it’s a steady drift lower, with each candle probing down further.
More importantly, look at volume: over the past four hours, volume in the last two hours surged 28.3% compared with the first two. Rising volume on a decline suggests genuine selling pressure, not just small-scale retail trading.
Price is now hovering near support at 786, while 788 has turned into short-term resistance and 790 remains a tough hurdle. As long as any rebound fails to hold above 790, the short-term bearish case remains intact. The first target is 786; a break below that could open the door to further losses.
If BNB regains and holds above 790, the short-term bearish outlook is off the table.
Don’t rush to buy the dip—the knife is still falling. $BNB
The four-hour candle has just closed. BNB slipped from 787.44 to 786.43, down a modest 0.13%. It may not look like much, but a closer look at the 15-minute candles tells a different story.
Over the past hour, the highs of the four 15-minute candles fell from 788.84 to 787.75, while the lows dropped from 787.81 to 786.42. Closing prices also tumbled from 788.06 to 786.43. This isn’t consolidation—it’s a steady drift lower, with each candle probing down further.
More importantly, look at volume: over the past four hours, volume in the last two hours surged 28.3% compared with the first two. Rising volume on a decline suggests genuine selling pressure, not just small-scale retail trading.
Price is now hovering near support at 786, while 788 has turned into short-term resistance and 790 remains a tough hurdle. As long as any rebound fails to hold above 790, the short-term bearish case remains intact. The first target is 786; a break below that could open the door to further losses.
If BNB regains and holds above 790, the short-term bearish outlook is off the table.
Don’t rush to buy the dip—the knife is still falling. $BNB
