Binance Coin (BNBUSD) is trading at $633.94 on the 4-hour chart, down 3.43% from the daily opening price of $656.47. The cryptocurrency has recorded an intraday high of $657.58 and a low of $622.15, producing a trading range of $35.43 as of 4:18 a.m. New York time.
BNBUSD Elliott Wave Analysis – H4
Binance Coin's Elliott Wave structure remains bearish following the completion of the purple (ii) corrective rebound and the subsequent blue ii recovery, which peaked near the marked $688.67 level.
Selling pressure then intensified through blue wave iii, driving the price toward $622.15, where the highlighted support area produced an initial rebound.
The preceding decline also follows the larger sequence marked by green circled ii and purple (i)–(ii), while purple (iii) remains the projected lower-degree endpoint of the broader bearish movement. According to the drawn scenario, the rebound from $622.15 could develop into blue wave iv, targeting the 38.2% Fibonacci retracement before selling pressure resumes.
The earlier highlighted price-reaction zone near $650 lies above the current market and may present resistance during this recovery.
A rejection around the projected Fibonacci level would support another decline below $622.15 toward the anticipated purple (iii) endpoint. However, blue wave iv and the ensuing bearish extension remain unconfirmed.
Technical Summary – November 13, 2026
- Trend: Bearish
- Current Elliott Wave: Blue iii labeled at $622.15; blue iv projected
- Higher-Degree Structure: Purple (iii) projected after purple (i) and (ii)
- Key Support Levels: $622.15
- Key Resistance Levels: Highlighted area near $650; $688.67
- Next Price Target: 38.2% Fibonacci retracement during wave iv, followed by a projected decline below $622.15
- Fibonacci Levels: 38.2% retracement
Trader's Question: Is Binance Coin's rebound from $622.15 the beginning of a bullish reversal?
The current wave count favors a corrective recovery rather than a sustained reversal. Blue wave iv could advance toward the 38.2% Fibonacci retracement before the projected bearish sequence resumes toward purple (iii).
