“While Technical Indicators Show A Mixed Picture, Bnb Remains Above Key Support at $ 640, Suggesting Pocityal for Upward Reversal.”, – WRITE: www.coindesk.com
The Conflict Saw Investors Flee Risk Assets and Led to More of Thran $ 700 Million in Liquidations in the Crypto Market in Just 24 Hours, Accounting To CoingLes. BNB, However, Managed to MainTain A Narrow Trading Range of Just Over 1%, Resistance A Broader Altcoin Pullback.
BNB, after the Sell-Off, Failed to Break Above $ 660, ITS IMMEDIATE Resistance Level Account to Coindesk Research’s Technical Analysis Pattern.
Despite The Setback, The Coin Has Stayed Above Support at $ 640, A Zone Aligned with The 78.6% Fibonacci Retracement Level. Trading Volume Analysis Suggests Selers Dominate Near $ 655.5, While a Buyer Base Forms AROUND $ 649, The Model Shows.
Technicals Signal A Mixed Picture. The MOVING AVERAGE CONVERGENCE DIVERGENCE (MACD) TURNED NEGATIVE, AND The RELATIVE STREEX INDEX (RSI) SITS Just Under 50, Hinting at Fading Momentum.
Yet The 50/200-Day MOVING AVERAGES ARE NEARING A GOLDEN Cross, and The Chaikin Money Flow Indicator Remains Positive, A Setup that Has Historically Preceded Upward Reversals, Accounting Tota.
But Sentiment around bnb isn’t all bullish. Net Taker Volume, A Gauge of Aggresses Sell Pressure, Hit A Multi -Week Low of -$ 197 Million.
Meanwhile, Even as Binance Smart Chain’s Perpetual Trading Volume Rose Exponentilly Month-Over-Month, This Activity Doesn’t Appear to have Sparked New Demand for Bnb. Futures Open Interest Remains Down More than 30% from Its December Peak.
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