Seeing BNB drop straight from the 890 area down to below 840 will make many think the market is breaking, but in reality, the selling pressure did not last like a true breakdown. The selling volume only surged for a moment and then faded, while absorption volume appeared right after. This type of volatility is extremely familiar in wash trading phases before a pump.
Under the 835 area, there is almost no thick liquidity left, so the bears cannot extend the decline. If the cash flow recovers slightly, BNB can quickly bounce back to the 865 area.
This phase resembles more of a shakeout than a trend break.
BNBUSDT
Perp
891.87
-1.45%