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Binance Coin (BNB) Battles Resistance at $645, Eyes Breakdown to $620

  • Binance Coin (BNB) is trading near $631.97, facing bearish pressure and weakening short-term structure.
  • Seller control is strong, with rising volume during downward sessions.
  • RSI and MACD indicators signal limited buyer interest and a dominant bearish setup.
  • Key support is at $620, while resistance persists at $645.
  • BNB struggles against sustained bearish momentum, trading at $631.97 with a market cap of $89.03 billion.
  • Bearish sentiments prevail with repeated failed attempts at holding upper price bands.
  • Increased selling pressure is reflected in a string of red candlesticks and rising trading volume.
  • Technical indicators on the 4-hour time frame show no immediate relief for BNB, with widening Bollinger Bands.
  • RSI at 35.40 and MACD signal a prolonged bearish trend.
  • Resistance is observed at $645, with the next target at $620, a crucial support level.
  • Recovery requires recapturing the middle Bollinger level with developing momentum on RSI and MACD.
  • Sellers dominate in the short term, maintaining high volatility in upcoming sessions.

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