$BNB is currently facing intense sell-side pressure, dropping to $856. The price has broken below the key $864 support level seen earlier, hitting a new 24-hour low of $855.00. This sharp downward move follows a rejection from the $909 local peak, signaling that the bears are firmly in control of the current momentum.
🔍 The Quick Analysis:
The 4-hour chart shows a aggressive bearish trend with the 50-day moving average sloping downward. While the long-term 200-day moving average is still sloping up, indicating the broader trend is technically strong, the immediate price action is dominated by a "lower low" pattern. Trading volume remains high at $246M (BNB), but the absence of a strong "wick" recovery suggests that buyers are hesitating at these levels.
🎯🔮 THE NEXT MOVE 🔮🎯
• The Bearish Slide: If $BNB fails to reclaim and hold above $864 quickly, the next major liquidity hunt is expected near the $820 - $840 zone. A failure to bounce here could lead to a deeper retest of the $800 psychological floor.
• The Bullish Recovery: To invalidate the current crash, bulls must push the price back above $880 and flip it into support. Only a break above the $910 resistance would signal a potential return to the $950+ range.
• Bottom Line: The trend is currently bearish. Do not FOMO into a potential "dead cat bounce." Wait for a confirmed base at $855 or a high-volume breakout back above $880 before considering long entries. 🛑🧠
Are you buying this #bnb crash or waiting for $800? Let's hear your plan! 👇