BNX/USDT at Critical Demand Zone — Reversal or Breakdown?BNX/USDT on the Weekly (1W) timeframe remains in a long-term bearish structure after a significant decline since its 2022 peak. Currently, price is pulling back toward a strong historical demand zone, highlighted by the yellow box between 0.383 – 0.330. This zone has previously acted as a key reaction area, triggering multiple strong bounces.
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Pattern & Structure Explanation
Primary Trend: Bearish (Lower Highs – Lower Lows).
Market Structure:
Price is moving within a large macro range, repeatedly reacting between lower support and mid-range resistance.
Key Patterns Identified:
Range-bound structure with potential accumulation at the bottom.
Possible base formation / double bottom if price holds above the demand zone.
Repeated rejections from the 0.73 – 0.95 resistance area, indicating strong selling pressure.
The yellow zone represents a weekly demand zone that has been tested multiple times, increasing the probability of a buyer reaction.
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Key Levels to Watch
Major Demand Zone:
0.383 – 0.330
Minor Support:
0.450
Key Resistance Levels:
0.540
0.730
0.830
0.957
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Bullish Scenario
Price holds and shows strong rejection from the 0.383 – 0.330 demand zone.
Formation of a bullish weekly close, such as a long lower wick or bullish engulfing candle.
A confirmed breakout above 0.540 may open upside targets:
First target: 0.730
Next targets: 0.830 – 0.957
This scenario suggests accumulation and a potential medium-term trend reversal.
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Bearish Scenario
A weekly close below 0.330 with strong bearish momentum.
Failure of the major demand zone to hold price.
Increased risk of bearish continuation toward:
Lower liquidity zones and potential new lows.
A valid breakdown would confirm that sellers remain in full control of the market.
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Conclusion
BNX/USDT is currently trading within a high-impact decision zone. The 0.383 – 0.330 demand area is a critical level that will determine whether price forms a base for reversal or continues its long-term downtrend. Price reaction at this zone will be crucial for the next major move.
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