BNB 24-Hour Market Overview

• BNB/USDT declined 5.9% over the last 24 hours, closing at $765.63 after a sharp sell-off from $780.7.
• A bearish engulfing pattern formed at the top of the 24-hour range, signaling potential exhaustion in the bullish trend.
• Volume surged during the selloff, with turnover peaking at $13054.195 in the 12:15 ET candle, reinforcing bearish momentum.
• RSI and MACD both show bearish divergence, with RSI hitting oversold territory, suggesting potential for a short-term bounce.
• Price is now consolidating near 61.8% Fibonacci support at $762.5, with a key support level forming around $758.0.

Market Overview

BNBUSDT opened at $776.65 on July 24 at 12:00 ET and closed at $765.63 on July 25 at 12:00 ET, reaching a high of $785.62 and a low of $753.12. Total traded volume was 130,541.95 units, with a notional turnover of approximately $99.5 million over the 24-hour period. The price action reflected a strong bearish bias driven by a sharp correction after midday ET.

Structure & Formations

The 15-minute chart showed a bearish reversal pattern forming at the 24-hour high, with a bearish engulfing candle on the $780.64–$783.65 bar. Price then consolidated between $762.0 and $768.0, forming a tight range that may indicate a short-term equilibrium. A key support level appears to be forming around $762.0, coinciding with the 61.8% Fibonacci retracement of the prior bullish leg.

Moving Averages

On the 15-minute chart, price closed below both the 20-period and 50-period moving averages, reinforcing the bearish bias. On the daily chart, the 50-period MA is above the 100 and 200-period MAs, indicating medium-term bearish momentum but with potential for a short-term bounce.

MACD & RSI

The MACD line crossed below the signal line during the selloff, confirming bearish momentum. RSI dropped into oversold territory below 30, suggesting a potential for a pullback or consolidation phase. However, divergence between price and RSI suggests caution—while a bounce is possible, it may not lead to a sustained reversal.

Bollinger Bands

Volatility expanded during the selloff, with price reaching the lower band at $753.12 before bouncing. The bands have since contracted, indicating a potential shift toward consolidation. Price remains near the lower band, suggesting continued bearish pressure unless a breakout occurs above the 770.0–775.0 range.

Volume & Turnover

Volume spiked during the sell-off, particularly in the 12:15 ET candle, where 130,541.95 units were traded. This volume surge aligns with the price decline, confirming bearish conviction. However, a divergence in volume during the consolidation phase suggests that the bearish momentum may be losing steam.

Fibonacci Retracements

Key Fibonacci levels from the recent bullish move include 38.2% at $770.0 and 61.8% at $762.5. Price has now found support near the 61.8% level, with the 50% retracement at $766.0 acting as a potential pivot. A break below $762.0 could target the next support at $758.0.

In the next 24 hours, BNB may find a short-term bounce from the 61.8% Fibonacci support, but the overall bearish bias remains intact. A break above $766.0 could signal a resumption of the bullish trend, while a close below $762.0 would reinforce bearish momentum. Investors should remain cautious and watch for volume confirmation on any reversal attempts.