Binance Coin (BNB) is witnessing renewed selling pressure after a failed breakout against Bitcoin invalidated a bullish chart pattern. Analysis of the 4-hour and 8-hour charts indicates a potential retest of support near $610-$615, with momentum indicators showing a shift toward sellers. While a rebound from current levels is possible, technical resistance remains around the $640-$650 zone.
Binance Coin (BNB) is facing renewed downside pressure following a failed breakout on its Bitcoin trading pair. According to crypto analyst Umair Crypto, a deceptive breakout attempt on the 4-hour chart trapped buyers before momentum sharply reversed lower.
The token quickly fell back inside its ascending triangle pattern, losing key support levels. With the Relative Strength Index closing below 50, market structure has shifted to favor sellers in the short term.
This weakness is visible on the 8-hour USDT timeframe, where BNB has lost its Point of Control. Downside volume is expanding, indicating distribution amidst a series of lower highs.
A retest toward the $610-$614 support region cannot be dismissed based on current charts. The $530 area remains the primary downside target in a bearish continuation scenario.
On the 4-hour chart, BNB is currently trading near $632 after a bounce from the $585 support zone. The price has regained the 20 and 50 Exponential Moving Averages but remains below the 100 and 200 EMAs.
The RSI sitting around 66 suggests strong bullish momentum, though it may indicate overbought conditions. Price could advance toward $640-$650 but may face rejection near the 100 EMA resistance barrier.
