Peter Smith
⬤ Binance Coin (BNB) is stuck in a well-defined trading range after trying and failing to push above resistance. The 1-hour chart shows price briefly poked above the upper boundary before quickly reversing. This bearish range deviation shows sellers are strong near the top, and buyers couldn't hold higher ground.
⬤ After that failed attempt, BNB dropped back into the range and confirmed a bearish market structure break (MSB). Price is struggling to climb back up, showing that upward momentum has clearly weakened. The rejection at resistance fits perfectly with the range behavior—sellers keep defending the top and stopping any bullish runs.
⬤ Price is moving sideways rather than making any strong directional moves. There's no decisive breakout above resistance or breakdown below support yet. The upper range keeps stopping rallies, while the lower boundary marks the floor. As long as BNB stays between these levels, it's likely to keep bouncing around inside the range.
⬤ This matters because ranges usually stick around until something breaks clearly. BNB would need a strong move beyond these boundaries to change the current setup. For now, the bearish signals suggest price will likely keep reacting to those range highs and lows rather than starting a new trend. The horizontal levels are key for understanding where BNB might go next in the short term.
Peter Smith
