Saad Ullah
⬤ BNB is consolidating within a major support zone after pulling back from recent highs, but the broader picture still looks constructive. The two-week chart shows Binance Coin sitting comfortably above an ascending trendline that's been holding since 2023, suggesting the long-term structure remains intact despite short-term choppiness.
⬤ The current accumulation zone sits between $664 and $529, which lines up with the 0.382 and 0.5 Fibonacci retracement levels. This range is shaping up as a potential launchpad where price might stabilize before making another run higher. The pattern of higher lows is still in play, which points to consolidation rather than any real breakdown.
⬤ If things get messy, there's deeper support around $421 at the 0.618 Fibonacci level—that's marked as a strong backstop. On the flip side, if bulls take control, the chart maps out potential targets at $1,385, $2,150, and even $3,750 in an extended scenario. The projected path suggests a bounce from here could lead into a proper expansion phase.
⬤ This setup matters because it puts recent price action into context. How BNB handles this accumulation zone could set the tone for what comes next. A clean move above previous highs would confirm continuation, while losing these support levels would shift focus to those deeper Fibonacci zones and possibly change the narrative entirely.
Saad Ullah
