BNB (BNB) stalled below $620 despite whale accumulation and a 75% volume surge, with $617 resistance blocking a possible move toward $666.
Key Points:
- BNB trading volume rose 75% as two new wallets accumulated 20,007 tokens worth $12.1 million.
- The token remained capped near $617, while technical indicators showed fading upward momentum.
- A break below $597 could expose $540, while a move above $620 could reopen the $666 to $701 zone.
BNB Whale Buying
Two newly created wallets withdrew 20,007 BNB worth about $12.1 million on Monday, Aug. 17, a move the analysis described as whale accumulation.
CoinMarketCap data also showed daily BNB trading volume up 75% at the time of writing, following a low-volume weekend that may have left more room for volatility.
The daily chart remained bearish, and the latest recovery above $600 stalled at $617.
Fibonacci retracement levels left room for a move into the $666 to $701 area if BNB can extend its rebound, but the technical setup did not confirm that scenario. The DMI showed no strong trend, while the MACD sat above zero with its lines close together and the OBV kept rising without showing dominant short-term buying pressure.
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Price Outlook
On the four-hour chart, BNB had shifted into a bullish structure in recent weeks, although momentum weakened as price approached the $617 resistance area. The key short-term levels were $597 and $620. A move outside that range would give traders a clearer directional signal.
A drop below $597 could strengthen selling pressure and send BNB toward $540, restoring the bearish direction visible on the daily chart.
A breakout above $620 could instead open a move toward $666 to $701, although the analysis viewed that outcome as less likely because buying pressure remained limited.
The broader trend has been bearish since November 2025. BNB fell from $745 to $537 in June, so the current rebound remains a retracement inside that larger decline unless buyers can sustain a stronger break above resistance.
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