jvella_7

BNB Consolidation and about to break down

Short
BINANCE:BNBUSDT.P   Binance Coin / TetherUS PERPETUAL CONTRACT
BNB on the daily has been in consolidation since May last year, ranging from $350 to $230 respectively. Currently at the the bottom end of consolidation, BNB could look at getting some legs if volume supports it, but still remain in consolidation zone .
Keeping an eye on, On Balance Volume as it is in bearish divergence with the price, but if it OBV breaks resistance, before price this could mean BNB rallies a little, but if OBV breaks support look for BNB to follow as OBV is a leading indicator.

Please keep in mind that volume is weakening so its not looking great
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