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3 hours ago
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BNB Faces Possible Downside Amid Head and Shoulders Pattern Formation

BNB is currently displaying a potential rebound but remains within a head and shoulders (H&S) pattern, which may indicate a future pullback or continuation upward.

Key Technical Indicators

  • The H&S pattern on BNB's lower timeframe chart suggests bearish momentum might gain control, indicating a possible downward trend.
  • An unfilled Fair Value Gap (FVG) below the current price could attract the market to fill this gap, supporting the likelihood of a downturn.
  • The anticipated pullback aligns with a key Fibonacci level and a major Order Block (OB), highlighting a strategic entry point for long positions.

BNB

Market Strength and Potential Recovery

  • BNB has possibly formed a significant low around the $864 level after a prolonged downtrend and consolidation phase, indicating a crucial accumulation zone.
  • Stability near the $950 level shows signs of gradual recovery as buying pressure builds.
  • If the $950 support holds, BNB could rebound toward the $1,050–$1,100 range, potentially marking the start of a medium-term uptrend.

BNB