BNB Breaks Bullish Trendline but Shows Potential Rebound Signals
BNB has fallen below its long-standing bullish trendline, indicating potential for a deeper decline. However, it is nearing a key support zone where technical signals suggest buyers might counteract the selloff.
Bullish Trendline Break Alters BNB Market Dynamics
Crypto analyst Marcus Corvinus highlights a significant structural shift as BNB loses its bullish trendline, changing market sentiment from optimism to caution. The break suggests buyers are losing control, allowing sellers to dominate short-term price action.
If BNB fails to reclaim the trendline, Corvinus warns of a potential deeper downside move, indicating a fundamental market structure shift rather than a typical pullback. This introduces a caution zone with bears challenging lower support levels.
Confluence at Key Support Zone
Analyst Batman notes that BNB is displaying an attractive long setup with alignment of technical indicators suggesting a potential upward move. BNB rests within a strong bullish Fair Value Gap, having reacted positively at the 0.618 Fibonacci retracement level.
The Stochastic indicator shows a bullish divergence and golden cross, indicating selling exhaustion and possible buyer control, potentially leading to sustained price recovery.
