MARKET UPDATE: $BNB
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$BNB is trading around the 625 area after a strong recovery that has built a clean ascending channel since early April, with price pushing to the upper band near 650 before pulling back and now retesting the midchannel and the 625 horizontal support. The structure has been respecting both channel boundaries consistently and the overall picture has shifted considerably from the last update, with buyers clearly stepping in at every meaningful retracement.
As long as BNB holds above the lower channel boundary and the 618 area, the bias remains bullish and a recovery back toward the upper band is the more likely outcome. A loss of the lower channel on a closing basis would be the first sign that the bullish structure is breaking down and would shift focus back toward the 596–602 area below.
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