$BNB has experienced a sharp ~9% correction, and the chart clearly shows that sellers are currently in control.
🔍 What the Chart Is Telling Us
Price rejected from the $750+ zone and started forming lower highs & lower lows
Strong breakdown below MA(7) and MA(25) confirms short-term bearish momentum
MA(99) (~$720+) is acting as a strong overhead resistance
Current price is hovering around $690, showing weak demand
📉 Bearish Signals
Bearish moving average alignment
Increased selling volume during red candles → distribution pressure
Every bounce is getting sold → lack of strong buyers
📊 Key Levels to Watch
Immediate Support: $686 – $680
If this zone breaks → next downside targets $660 – $650
Resistance: $705 – $715
Trend reversal only if price reclaims $720+ with volume
🧠 Market Structure This dump looks like: ✔️ A correction after an extended move
❌ No confirmed bullish reversal yet
⚠️ Trading Note
Avoid aggressive longs in current conditions
Wait for confirmation before entering new positions
Market bias remains bearish to neutral
📌 Conclusion The 9% dump in
$BNB is technically justified. Until price moves back above key moving averages, downside pressure may continue.
Trade smart & manage risk.
#BNB #BNBUSDT