Peter Smith
⬤ Binance Coin (BNB) is trading near a critical technical area after breaking through a short-term downtrend on the hourly chart. The price has pulled back into a well-defined demand zone around the mid-$840s, where buyers are trying to stabilize things. The market is now watching closely to see if this retest can hold—if it does, the bullish scenario stays technically alive.
⬤ The chart shows a descending trendline that previously kept price advances in check, followed by a sharp drop and then a recovery. After regaining ground, BNB came back to test the green-highlighted demand zone, which has been acting as short-term support. At the time of the chart, BNB was trading around $846, consolidating just below a nearby resistance band. This looks more like a pause than an acceleration, which makes sense for a retest phase rather than a confirmed continuation.
⬤ Above current levels, there's a broader resistance zone sitting in the upper-$860s to mid-$870s range. The projected path on the chart shows a scenario where BNB could dip slightly within the demand area before attempting to move higher—assuming buyers keep defending support. There's no breakout confirmation yet, and the chart doesn't show a completed trend reversal, just a potential shift in short-term momentum if the current structure holds up.
⬤ This setup matters because BNB often reflects risk sentiment among major exchange-linked assets. If the demand zone holds, it could reinforce short-term stability and support renewed upside attempts. If it fails, the bullish scenario gets invalidated and downside risk comes back into play. The next directional move will likely depend on how price behaves around this demand area and whether buying interest stays active during the retest.
Peter Smith
