- Whales were heavily shorting BNB as buy pressure dropped to relatively lower levels compared to last week.
- BBN’s clean breakout from consolidation followed by higher highs with support above $652 and resistance around $700+.
Binance coin [BNB] saw a modest rise of about 1.59% in the last 24 hours, despite whales shorting massively and buying pressure reducing greatly.
BNB whale activity and reducing buy pressure
On Alphractal’s Whale vs. Retail Heatmap, red dominated the Binance row, demonstrating that whales were more actively shorting BNB than retailers.
Still, BNB’s price stayed steady and climbed a little, as seen on the chart.
Infact, the rise aligned with a spike in BNB Chain activity, which hit its highest level in three years—possibly offsetting short-side pressure.
Source: Alphractal
Because of this, whales could benefit from spot positions while using futures to offset potential losses on the downward side.
By shorting via futures and holding long spot, they might be neutralizing risk during a bullish phase, baiting retail into misreading the trend.
However, pressure is clearly easing.
Latest data showed a decrease in pressure on BNBUSDT–the green region seen in the most recent segment of the chart was much smaller than it was last week.
Buy Pressure at 0.466 and Sell Pressure at 0.669 formed a negative Delta of -0.203, down from the previous week’s stronger bullish imprint.
Source: Alphractal
Although BNB traded around $670–$690, the reduced buy momentum indicated that bulls could give way to bears soon. Things would not move in one direction unless buyers supported the market again.
Can price reclaim the $700 block?
Worth noting, Binance saw an 18.9% rise, jumping from $581.00 to $691.31, and then went into a temporary phase of stabilization.
After this phase, BNB hit a secondary peak at resistance, followed by a pullback that made support at $652 solid for bulls defending it.
If bulls manage a clean break above $660, BNB could aim for $667, then $684, and potentially $705. But any slip below $644 might erase bullish structure and accelerate losses.
From the first consolidation breakout and increasing prices, it was anticipated that a continuation would occur. Volume bought by buyers assured the market of continued interest.
Should the $667 level become a new support, the price might rise even faster toward $700+.
Source: TradingView
Failing to remain above $660 could result in a retest at $652 and even falling past $644. Because the entry range was narrow, the risk and reward were easy to predict.
Since the price broke out strongly and climbed fast, the initial warrant for bulls was strong, but the next phase would depend on how fast and in which direction momentum pushed near resistance.
