BNB is stuck in a range at the bottom of its overall correction structure.
Alternative currencies are lagging behind Bitcoin and Ethereum at the moment, which are showing signs of bullish reversals.
Bullish divergences have appeared in the daily RSI today, but the response has been weak. The RSI was almost carrying a weak bearish hidden divergence.
The price got rejected at the daily pivot, and the structure continues to show lower highs and lower lows, while staying clear of the daily 200EMA.
Wave 4 can't bottom out below the 0.5 level of the Fibonacci retracement that the price is currently flirting with. If that happens, the overall structure will turn into a Wave 2 instead, with an ABC Elliott wave correction as outlined in the textbooks.
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