BNB Price Slips Amid Bearish Weekend Sentiment

Binance Coin (BNB) experienced a sharp 4.12% drop in the past 24 hours, signaling bearish dominance at the start of the weekend, according to CoinStats. As of now, BNB is trading at $641.53.

On the hourly chart, BNB is fluctuating within a local channel. While the price remains mid-range, any sustained upward momentum could prompt a test of the immediate resistance zone by Sunday. However, caution is advised as the short-term trend lacks strong bullish confirmation.

On the larger time frame, BNB briefly broke above the $640.66 level but failed to hold, indicating a false breakout. This signals potential weakness and increased selling pressure. Traders are closely watching the daily candle closure; if the bar ends below key resistance levels, it may confirm a corrective move toward the $630 area.

From a midterm perspective, the bullish momentum seen earlier has faded. Bulls failed to sustain upward movement following a promising close in the previous session. If BNB continues to close below the $680 resistance level, the likelihood of further downside increases.

Overall, the technical outlook suggests caution for bullish traders. Without a strong daily close above $680, BNB may remain vulnerable to additional correction. Price volatility remains high, and market participants are advised to monitor resistance levels and trend confirmations closely before entering new positions.