Usman Salis
⬤ Binance Coin is staging a short-term comeback after what looks like a finished correction on the hourly timeframe. The pullback tagged as wave ((x)) seems done, and momentum's flipping bullish. Price bounced off recent lows and kicked off a new upward move within the Elliott Wave pattern that traders are watching.
⬤ The technical picture shows a messy corrective sequence with several sub-waves during the recent drop. What matters now is that price held firm above the critical $874.9 invalidation level—basically the line in the sand for this setup. From there, BNB started climbing with stronger short-term swings, signaling the immediate downside pressure might be over. "Selling is not recommended in this area," the analysis notes, backing up the view that bears are losing steam for now.
⬤ The current rally has its sights set on $962 to $1065, based on Elliott Wave projections and previous reaction zones. But here's the catch—this move is part of a correction, not the start of some new long-term bull run. Once BNB approaches those upper targets, the pattern suggests another leg down could be waiting as the broader correction keeps playing out.
⬤ BNB is tightly linked to Binance exchange activity, so it tends to mirror quick shifts in trading sentiment across crypto. A push into that $962–$1065 zone would show improving near-term vibes, but if the bounce fizzles out, traders will quickly pivot back to watching lower support levels. As long as price stays above $874.9, the bias leans cautiously bullish in the short run—though everyone's watching how BNB acts near those upper targets for signs it's running out of gas.
Usman Salis
