❌ Bearish Trend: BNB/USDT is consistently rejecting the 7MA, 25MA, and 99MA, confirming continued downside momentum. ❌ Heavy Selling Pressure: Volume spikes suggest strong distribution by sellers. ❌ Momentum Indicators: 🔹 RSI (21.22) is nearing oversold, but no confirmed reversal yet. 🔹 Stochastic RSI (84.07) signals potential short-term relief before further downside. 🔹 MACD remains negative, with no bullish crossover in sight.
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⚠️ Key Risks & Considerations
⚡ Short-Term Bounce Possible: A temporary push to $615 before continuing downward. ⚡ Stop Hunts Likely: Price could briefly exceed $615 before resuming bearish movement. ⚡ Support at $586: If this level fails, expect further downside towards $575.
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🔸 THIS IS MY ANALYSIS 🔸
📌 Please do your own research, and if it aligns with your strategy, then consider taking the trade.