BNB current price is 590u.

On June 2nd, it surged to 692, then kept falling all the way back. Now it’s down around 590, and the drop is close to 15 points.

There’s a detail worth noting.

These days’ lows have held steady around 580 without continuing to get smashed lower. On June 22nd, it even briefly hit 601, then closed back at 590. What does this position mean?

It’s the equilibrium point after the battle between bulls and bears. Once the bears smashed it toward 580, they couldn’t push it down further, and the bulls started probing with a tentative counterattack.

So why are some people suddenly buying in?

On July 3rd, something happened: a certain company plans to move its NFT business from the exchange to on-chain wallets, with a deadline of July 3rd. This move means real on-chain users are transferring, and on-chain activity is expected to improve.

Plus, after this pullback from 692—down 15 points—the value-for-money has become clear. When it surged to 692, chasing in meant buying high; now it’s pulled back to 590 and people are still looking to be bearish—I don’t think it’s really necessary.

As long as 580 holds without breaking, this level can be a place to wait.

$BNB #BNB