The encryption market was shocked as BNB decreased to less than the level of decisive support of $ 605, which led to the spread of anxiety ripples across trading circles. This sudden collapse comes after weeks of bullish domination, which let investors scramble to answer a decisive question: Is this a temporary decline or the beginning of the main direction reflection?
With the weak momentum and the main art indicators flipping in red, BNB plans tell a disturbing story. The most difficult budget trend faces the most difficult test, as it struggles with the distinctive symbol to maintain its feet in a sudden declining market.
Blasting pressure structures: Do BNB sellers win control?
The BNB price faces increasing pressure after slip below the level of $ 605 decisive, indicating a possible transformation in the market momentum. The failed attempt to keep this main support for sellers to control allowed BNB to decrease and increase concerns about the prolonged decrease.
Technical indicators also confirm the increase in the strength of the sellers. MACD turned into negative, indicating the loss of upward momentum, while RSI is heading down, indicating that the purchase pressure weakens. In addition, the trading volume remains low in trying a counterattack, highlighting the lack of condemnation of the bulls.
If sellers maintain their grip, BNB can extend its decline towards the following main support zone about $ 531, which served as a short -term level during previous corrections. A break below this region would enhance the dominance of hippot and cause a deeper drop to $ 500.
Less than $ 500, the next main level of watching is $ 454, and it represents a technical support area. The payment may lead to a extended sale, which leads to the leadership of BNB towards other major support levels as traders may search for signs of reflection.
What should happen for apostasy
In order for BNB a meaningful recovery after breaking it below $ 605, the bulls must restore the key levels and generate a strong purchase momentum. Its first decisive step is to stabilize more than $ 530, a short -term support area that can provide the basis for reflection. Keeping this level will indicate that buyers intervene, which prevents more declines.
The continuous move to above $ 605 will be the next main confirmation of a recovery. Restoring this level as support may lead to the transformation of morale in the market in favor of bulls and renewed interest in purchase. In addition, the RSI index needs to bounce from the conditions of sale, while the MacD Cross to the upward lands will enhance the upscale step.
For the strongest bullish expectations, BNB will need to exceed $ 680, a level that was previously resistance. Breaking this area may increase its size to an increase in the reflection of the trend of about $ 724 and $ 795, which represents a full recovery of the last losses.
