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Something big is brewing for $BNB and most people are still staring at the old red candles.
The daily chart is actually starting to look decent for the first time in weeks. We’ve been stuck in this nasty downtrend since the 959 level, but we finally found some solid footing around 570. Right now, the price is sitting at 649 and it’s showing some real strength by breaking out of that local consolidation zone.
The volume is healthy at 121M USDT and we’re seeing a nice 3.5% green day. If we can flip this 650 area into support, the next major hurdle is going to be that 721 level. The order book is looking a bit heavy on the ask side at 90%, so it might take some effort to push through, but the momentum is clearly shifting.
I’m watching the close today very closely. If we hold these gains, the bear trend might finally be broken.
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