📊 BNB Analysis - Nov 17.

With the market downturn, BNB has also experienced a correction to the $240 support level, forming a parallel consolidation channel.

Based on on-chain movements, significant holders are buying near the lower channel boundary, increasing their positions before the continuation of the bullish trend. Meanwhile, seller volumes continue to decrease.

Over the past few weeks, the market has experienced notable overbuying, particularly evident in the RSI. Nevertheless, the indicator has now shifted into the neutral zone, showing substantial potential for growth.

💡 If BNB manages to hold above $240, I anticipate a return to the upper channel boundary with an attempt to establish above this mark and move towards $280.

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