Crypto analysts warn that BNB could see a short-term correction after a bearish technical pattern appeared on the charts.
BNB recently tried to break the $657 resistance level, but strong selling pressure pushed the price down. This rejection confirmed a rising wedge breakdown, a pattern traders usually consider bearish.
Key points from the analysis:
🔻 Bearish rising wedge confirmed: The pattern suggests bullish momentum is weakening.
📉 Value Area High lost: Indicates buyers are struggling to keep the price higher.
🎯 Next support level: Around $587, which could act as the next downside target.
Currently, BNB is trading near the Point of Control (POC) — a price zone with the highest trading volume. This level may act as temporary support, but if it fails, the price could move faster toward the $587 support zone.
Despite the short-term bearish outlook, there is still positive fundamental news. YZi Labs recently committed $100 million to Hash Global’s BNB Holdings Fund, aiming to strengthen BNB’s role as institutional-grade crypto infrastructure.
Outlook
As long as BNB stays below $657 resistance, analysts believe the probability of a move toward $587 support remains high.$BNB #eth
