BNB's bounce stalled at $617 after two wallets withdrew 20,007 BNB worth $12.1 million from Binance, Lookonchain reported. Daily trading volume jumped 75% over the weekend, but momentum indicators show the rally losing steam, leaving $597 and $620 as the levels traders are watching next.
Two newly created wallets withdrew 20,007 BNB, worth $12.1 million, on Monday, August 17, Lookonchain reported on X. The withdrawal came as BNB's daily trading volume spiked 75% at the time of writing, according to CoinMarketCap data. A low-volume weekend may have given the altcoin room to expand its volatility.
BNB stays stuck within a downtrend
The 1-day chart remained bearish. The drop from $745 to $537 in June extended the trend in place since November 2025. At the time of writing, the bounce beyond $600 had been halted at $617.
Fibonacci retracement levels showed room to the north for the retracement to continue. If it does, a move into the golden pocket between $666 and $701 would represent an ideal region to sell BNB. Yet the technical indicators did not support such a rally: the DMI showed a lack of a strong trend underway, and the MACD floated above the zero line but sat close to its signal line, a sign upward momentum had slowed. The OBV climbed over the past six weeks, but it did not show dominant short-term buyer strength.
Lower timeframe structure turns bullish
The 4-hour structure flipped bullishly in recent weeks. As the daily timeframe showed, the slowdown in momentum at $617 saw the H4 indicators slump toward bearishness.
Traders are watching two key short-term levels: $597 and $620. A drop below $597 would signal extended downward momentum and a potential correction toward $540. A breakout past $620 could take prices to $666-$701, though a lack of buying pressure makes that move less likely.
Source: AMBCrypto
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