- Binance Coin (BNB) is trading at $634.85, down 4.30%, and has slipped below key support at $640.
- The price is under the lower Bollinger Band, indicating increased volatility and bearish momentum.
- Resistance remains strong near $697.84, while $625.92–$600 is the critical support zone.
- A break below $625 could trigger further losses, with $600 as the next key level.
Binance Coin (BNB) is trading at $634.85, showing a decline of 4.30% in the last 24 hours. The market trend has turned bearish, with the price slipping below key support at $640 and now hovering near the critical level of $625.92. This drop puts pressure on bulls to hold the current range as sellers gain control.
Binance Coin (BNB) Rejected at $697, Bears Target $625 Next
The Bollinger Bands (20, 2) indicate that Binance Coin has broken below the basis line at $663.38 and is also trading under the lower band at $646.31. This signals heightened volatility and downside momentum. The 9-period DEMA, currently at $648.29, has flipped into resistance, reinforcing the short-term bearish view.
BNB recently struggled to stay above $680, facing consistent rejection near $697.84, which remains a strong resistance area. On the downside, the support range between $625.92 and $600 is now in focus. A clean break below this zone could lead to further losses.
The coin had previously consolidated through April before a breakout rally in May pushed it close to $700. However, that upward move lost steam, and BNB is now retreating toward earlier consolidation levels.
If bulls manage to reclaim $648 and push above the basis line, it may stabilize the trend. Until then, the downside risk remains, with $625 acting as the last stronghold before a potential slide to $600. Traders are watching these levels closely to assess the next major move.
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