BNB Breaks support and continues lower

By thanaxcrypto | Nesher Trading Club | 25 Jan 2024


Today, January 25th (Thursday), BNB follows the path of the bears, being pressured to reach increasingly lower points.

It's no news that bears are dominating the crypto market. Today I come to talk about bad news for some, or good news for others, depending on how you treat it. The BNB has been breaking out of a strong trend zone, where before it was following a price correction within a bullish zone. Until now, the chart has respected the strong high zones and has been breaking the lows. We can see that on the 23rd, at the breakout, the zone that was respected at the low retreated to the strong area where it was previously the support of the uptrend zone.

BNB chart

Soon after, on the 24th, test the region again until breaking it on the third day of testing, the 25th. For those who trade futures contracts, we can expect to surf a downtrend up to 285 and breaking out to 275. For buyers, expect purchase confirmation zones, the strongest areas are the same, but don't stay in buying positions for too long, as the biggest trend is downward. For those who have BNB, Pay attention to market fluctuations, try within the supply and demand price ranges. We continue to descend further and further, and in the face of instability with the news of Binance paying billions of dollars in fines, can drag prices down.

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BTC Address Bitcoin Network
1EUyKfGoLE9BVuwy4ei4Wax33htNoqxvSM
BNB Address BEP20
0xdb89e044565180d430234e40f1982b81f0c7e430
ETH Address ERC20
0xdb89e044565180d430234e40f1982b81f0c7e430

 

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