If the price closes below the 20-day EMA, it will suggest that the bulls have given way. This will bring into play the wide range of $685 to $722. Buyers are expected to fiercely defend the $635 level, as a break below this could initiate a deeper correction.

Alternatively, if the BNB/USDT pair rises from the current level and breaks above $722, it will signal that the bulls have overcome the bears. This could initiate an upward movement towards $761 and subsequently to $794.