BNB hovers near $650 after $680 rejection, with $648 daily close as key level

BNB traded around $650 after slipping 1.25% over the past 24 hours, while volume fell 51.9% to nearly $772 million. The daily chart shows repeated rejection near $680, with $648 flagged as immediate support and a daily close below it potentially setting up an 11.5% drop toward $578. Derivatives positioning leaned bearish with a 0.8407 Long/Short Ratio, even as exchange data showed over $14 million in net outflows over the past 48 hours.