Binance Coin(BNB): Dumping While Market is Pushing? πŸ‘€

BYBIT:BNBUSDT.P   BNBUSDT Perpetual Contract
The BNB/USDT pair on the daily chart shows a failed attempt to push higher, indicating a potential reversal. The market seems to be reacting to news about Binance's founder, which could be influencing trader sentiment. The Price is now staying below 100EMA, showing us the strong overweight of bearishness (thanks to that failed attempt to push)

The path ahead for BNB may be choppy, with potential downward movements, but we need to have strong support from where we could see some sort of bounce (or some kind of positive news that could push prices out of this downward movement).

Yesterday, the price secured 100 EMA, but as of today, it is already being tested again, showing the downward pressure happening on the BNB coin.

Swallow Team

BNB is still gliding near 100EMA while being below the liquidity zone. Coin still has great potential for downward movement, considering that we also see some sort of head-and-shoulder pattern.

If liquidity zone will be broken then this scenario of downward movement will be postponed!

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