$BNB

It fell from $677 on November 30, indicating that bears are aggressively defending the upper resistance at $687.

The 20-day EMA ($635) is the first bearish support. If the price recovers from the 20-day EMA, bulls will try to push the BNB/USDT pair above $687. If they are successful, the pair could rise to $722.

Instead, if the 20-day EMA breaks, the pair could fall to the 50-day SMA ($609). This is an essential level for bulls to protect because a break below it could sink the pair to the uptrend line.