BNB Price Shows Sideways Movement Amid Potential Correction and Market Uncertainty

Key Points

1. BNB price has declined by 2.5% over the past 24 hours, with support at $675.30 and resistance near $691.10.

2. Technical indicators suggest a bearish undertone, with potential for a deeper retracement to the $660 area if resistance is not reclaimed.

3. The market sentiment indicates a delicate balance between buying and selling pressures, with traders advised to adopt a wait-and-see approach.

4. A false breakout suggests sellers remain vigilant, ready to capitalize on any upward momentum.

5. BNB's price action is confined within a well-defined range, offering limited short-term trading opportunities.