Binance Coin (BNB) Oversold? Bollinger Bands Spells New Price Direction

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.