BNB Slips Below $960 as Traders Brace for More Decline

BNB, the native token of the BNB Chain, has dropped below $960 in the last 24 hours, surrendering early gains after facing resistance near $970. Following a brief high of $970.03, the price fell to a low of $942.06 amid a sharp increase in trading volume, indicating large-scale sell orders and forced liquidations. The token is currently rangebound, struggling to stabilize between $950 and $960, with analysts noting the formation of a head-and-shoulders pattern, typically a bearish indicator. According to experts, the break below $970 suggests a significant shift in order-flow dynamics, with liquidity pockets below $950 implying that the path forward may be downward. The market’s next major move for BNB hinges on whether it can reclaim levels above $970, or if it breaches further towards $900, with the overall decline aligning with broader trends in the cryptocurrency market.

Source 🔗