Coin securityThe currency (BNB) experienced significant price fluctuations last month, forming a channel that is currently trading at a lower level within that range. Meanwhile, the trading price of Bitcoin (BTC) continues to be below $27000
Coin securityThe currency (BNB) experienced significant price fluctuations last month, forming a channel that is currently trading at a lower level within that range. Meanwhile, the trading price of Bitcoin (BTC) continues to be below $27000. Under the influence of these negative factors, the possibility of BNB rising is unlikely.
Recent price analysis suggests that the support level of $205 may be broken on October 10th. Although the price of BNB has dropped to $202.8, there has not been a significant downward breakthrough yet. The following are the expectations of traders and investors for BNB in the near future.
BNB coin review
Coin security 4 205 203.9 Coin securityBNB 10 10 212.7
According to the chart, a 4-hour market trend with a closing price below $204 may create short positions for investors. Taking these factors into account, buyers do not have a favorable environment to showcase their strength. The relative strength index (RSI) is 42, and the balanced trading volume (OBV) continued to show a downward trend throughout October.
In addition, the value of Chaijin Capital Flow (CMF) is below -0.05, indicating a significant outflow of capital from the market. When examining price trends and indicators together, it can be assumed that BNB may fall below $204.
The Future of BNB Coins
From October 9th to 12th, open interest contracts (OI) experienced a reverse rapid growth when prices fell, as shown in the following figure. This indicates an increase in strong bearish sentiment in the market. In addition, these price changes reflect the willingness of bears to short tokens.
On October 10th, the cumulative trading volume Delta (CVD) increased. However, bulls cannot withstand the pressure. There has also been a slight decrease in CVD in the past two days. This indicates that BNB does not have real demand in the market and may face more short selling.
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