BNB’s $640 barrier under siege: Are bears at risk of a squeeze?

by

Ah, Binance Coin (BNB) bulls, those elusive creatures of the digital jungle, managed to claw their way back to the coveted $600 psychological level. On the 25th of February-what a date!-BNB rose a glorious 7.85%. A moment of triumph! They managed to wrestle the key Moving Average into submission, converting it into a trusty support. The day was theirs. Or was it?

The 1-day chart, our trusty guide, displayed a rather delightful scene: the 20-day moving average (that orange line, sweet as a summer sunset) now providing support at $618.75. The area from $602 to $610, once a high-and-mighty supply zone, was swiftly overcome-just like that. Bulls, it seemed, had their day. But as ever, the shadows loom. A mere flicker of hope, or the beginning of something more sinister? Ah, the eternal dance of bulls and bears.

This bullish engulfing candle, a thing of wonder, could indeed suggest that BNB might be flirting with short-term bullishness. But don’t get too cozy just yet, dear traders, for the 1-day structure still tilts towards the dark side: bearish. A squeeze, yes, it could be coming, but beware-it might just be a brief sigh before the storm hits. Hold tight.

The trading opportunities for BNB

Swing traders, long-term investors, and all those who dabble in the art of speculation, take note! The long-term trend for BNB is as grim as a foggy morning. It’s been bearish, dear reader, and the price is testing the $601 low-a low that sparked the mighty rally of 2025. A deep discount, some say. A chance to buy the dip, if you will. But do not be so easily seduced by bargains-check your wallet, and your risk appetite.

And, as always, a nod to Bitcoin (BTC) is in order. Despite its recent bouncy performance-oh, it’s fun to see Bitcoin flirt with $69k, isn’t it?-there’s a nagging suspicion that the drawdown is far from over. That juicy market bottom may still be waiting for its big moment, perhaps lurking in the shadows for months to come. Patience, my dear friends, patience.

The short-term BNB bullishness

Looking to the 4-hour chart, a slight, delicate glimmer of hope persists. The $640 resistance, so firm, so strong, is once again under assault. Though the OBV didn’t quite manage to make new highs (oh, the disappointment!), the persistent testing of this resistance suggests something sneaky might be brewing-perhaps a breakout, perhaps a mere mirage. It’s always hard to say with these capricious markets.

If the stars align and volume floods in like a mighty river, we might just see a breakout above the local resistance, a lovely retest of $640, and then, oh sweet joy, the potential to push towards $680 or even $730. Could it be? Could we dare to dream of such heights?

The liquidation heatmap, ever the harbinger of market drama, echoes this hope of a breakout. From $643 to $680, a juicy cluster of short liquidations might just carry BNB higher. And if things go really wild? Look out for $800-a lovely place to visit, though I wouldn’t want to live there.

But, ah, let us not forget the big picture: BNB reclaiming the 20-DMA isn’t so much a resurrection as it is a hunt for those pesky liquidation levels. Unless Bitcoin crosses the magical $70k or $73k mark, caution should reign. The bears, though seemingly on the ropes, may yet strike when we least expect it.

Final Summary

  • The recent move above $600 could be the beginning of a short-term rally to $680.
  • This move would likely not be a bullish recovery but a hunt for liquidation levels before a bearish reversal follows.

Read More

2026-02-27 16:08