BNB Price Tackles 200-Day SMA: Breakout or Mean Reversion Ahead?

BNB is currently trading at $612.24, up around 2.2% on the day, but its price action suggests caution.

The price is close to the upper Bollinger Band and has a %B reading of 0.92, indicating it's coiled against resistance in a tight box.

Despite every short-term moving average being stacked bullishly beneath the price, there's a significant wall directly overhead: the 200-day SMA at $625.73.

This level has effectively capped every attempt to sustain a long-term recovery and BNB is on a collision course with it.