Binance Coin (BNB) Oversold? Bollinger Bands Spells New Price Direction
Main Idea
Binance Coin (BNB) shows signs of being oversold, with potential for a rebound, as indicated by Bollinger Bands and recent price movements.
Key Points
1. Binance Coin (BNB) appears oversold and may rebound, with Bollinger Bands indicating caution and a lower band at $763.02.
2. BNB's price increased by 2.06% to $774.98, with trading volume rising by 4.12% to $2.1 billion.
3. The coin found support at $758.56, aligning with the Fibonacci retracement level, reducing bearish momentum.
4. If buying pressure continues, BNB could break out toward $800, with the Relative Strength Index (RSI) being a key indicator.
5. BNB reached an all-time high (ATH) of $859 in July, with its market capitalization peaking at $118.29 billion.
Description
Binance Coin risks short-term bearish reversal as Bollinger Bands show oversold conditions
Latest News
- Ripple CEO Ends Speculation on New Major $200 Million Stablecoin Deal2025-08-07 16:47:11
- Dogecoin Hits 'Historical Buy Zone', New DOGE Price Outlook Says2025-08-07 16:06:30
- 9,614,765 SHIB Tokens Destroyed in Hours as Key Metric Soars 3464%2025-08-07 16:04:41
- US SEC To Review Ripple Lawsuit Appeal In Hours2025-08-07 15:54:42
- ETH Bears Crushed as Short Liquidations Soar 370% Over Bitcoin2025-08-07 14:57:00