📉 BNB bearish in the short term; watch the 678 support
As of November 9 at 13:31 Beijing time, BNBUSDT perpetual was trading at 686.19, down 1.60% over 24 hours, with a trading volume of 290 million USDT and net active selling of $20.54 million, indicating selling pressure is dominant. Market data source (https://finderside.com/symbols/BNBUSDT/)
Earlier, open interest was about $364 million, down 1.2% over 24 hours. The funding rate was 0, and the decline in price and open interest is more consistent with deleveraging. The 4-hour RSI was 39.8, and the 1-hour MACD had previously shown a bearish divergence, supporting a bearish outlook. Indicator source (https://closedcandle.com/coin/bnb)
Over the next 4–24 hours, price is likely to retest support at 684 and 678. A break below 678 could lead to a test of the 670 round-number level. Resistance is at 694 and 702. If price holds above 694 on increased volume, the bearish outlook is invalidated, and the rebound target shifts to 702.
#BNB #BNBUSDT #币安合约 #Market Analysis
As of November 9 at 13:31 Beijing time, BNBUSDT perpetual was trading at 686.19, down 1.60% over 24 hours, with a trading volume of 290 million USDT and net active selling of $20.54 million, indicating selling pressure is dominant. Market data source (https://finderside.com/symbols/BNBUSDT/)
Earlier, open interest was about $364 million, down 1.2% over 24 hours. The funding rate was 0, and the decline in price and open interest is more consistent with deleveraging. The 4-hour RSI was 39.8, and the 1-hour MACD had previously shown a bearish divergence, supporting a bearish outlook. Indicator source (https://closedcandle.com/coin/bnb)
Over the next 4–24 hours, price is likely to retest support at 684 and 678. A break below 678 could lead to a test of the 670 round-number level. Resistance is at 694 and 702. If price holds above 694 on increased volume, the bearish outlook is invalidated, and the rebound target shifts to 702.
#BNB #BNBUSDT #币安合约 #Market Analysis