Binance Coin [$BNB] witnessed accumulation by whales. Lookonchain posted on X that two newly created wallets withdrew 20,007 $BNB, worth $12.1 million, on Monday, August 17.
The daily trading volume of $BNB crypto has spiked by 75% at the time of writing, according to CoinMarketCap data. A low-volume weekend may have given room for an expansion in the altcoin’s volatility.
Let’s take a look at the relevant price charts to understand what swing traders and investors can anticipate next.
$BNB crypto still stuck within a downtrend
The price action on the 1-day chart was bearish. The drop from $745 to $537 in June represented a bearish continuation of the trend in place since November 2025. At the time of writing, the bounce beyond $600 has been halted at $617.
The Fibonacci retracement levels [orange] showed that there is room to the north for the retracement to continue. If it does, a move into the golden pocket area, between $666 and $701, would represent an ideal region to sell $BNB crypto.
At the time of writing, the technical indicators did not support the idea of such a rally. The DMI showed a lack of a strong trend underway.
The MACD was floating above the zero line, but the proximity of the MACD and signal lines showed that upward momentum had slowed down. Meanwhile, the OBV was climbing higher over the past six weeks, but it did not show dominant short-term buyer strength.
Traders’ call to action- Watch the lower timeframe price action
The 4-hour structure has flipped bullishly in recent weeks. As the 1-day timeframe showed, the slowdown in momentum at the $617 level saw the H4 technical indicators slump toward bearishness.
The key short-term levels to keep an eye on are $597 and $620. A drop below the former would signal extended downward momentum and a potential correction toward $540.
The less likely scenario of a breakout past $620 can take prices to $666 to $701. A lack of buying pressure is what makes this bullish move less likely.
Final Summary
- $BNB crypto saw a 75% daily trading volume surge, but upward momentum has slowed down at the $617 resistance level.
- If the altcoin falls below $597, it would see accelerated selling pressure and a resumption of the higher timeframe bearishness.