Does $BNB have one more leg down or is this consolidation the calm before the storm?
Price is currently chilling at 644.76 and it’s looking a bit heavy on the 1h chart. We saw that sharp drop to 630.83 earlier and since then it’s just been grinding sideways. It hasn't really shown the strength to reclaim the 653 area which is acting like a ceiling right now.
Check out the order book though. Bids are sitting at 70.12% which is actually pretty massive compared to the asks. Usually that means there’s a lot of interest in holding this level, but if those buyers get bored and pull their orders, we could see a fast slip back toward 637.
I’m playing it cool for now. If we can squeeze past 645.50 on some decent volume, I might look for a quick scalp. Otherwise, I’m waiting to see if it tests that 637 support again to see how it reacts.
Volume is looking pretty average so no need to rush into anything.