$BNB *BNB: Strong Downtrend 😬*
BNB down 2.82% daily and 35.9% monthly, trading below key EMAs ($604-$620):
- Oversold conditions: RSI6 at 24.78, near Bollinger Lower Band ($597.98)
- Institutional distribution: $9.09M outflow; 707 short whales vs 279 longs
*Key Levels:*
- Support: $597-$600, $580
- Resistance: $608, $620
*Trading Strategy:*
- Short-term: Watch $597-$600 support; breakdown opens path to $580. Close above $608 signals temporary relief
- Mid-term: Resistance at $620. Reversal needs move above $770 to trigger short squeeze
- Long-term: Accumulation zone forming near $580-$590. High-risk entry at $750-$755 with stop below $740 if bullish structure returns
BNB
606.02
-1.06%