Why is BNB Down Today?

BNB, the native token of the BNB Chain, dipped below $960 in the last 24 hours, losing momentum after resistance near $970. Volume increased significantly during the price reversal, indicative of large sell orders leading to a drop to a low of $942.06, before a slight recovery. Analysts are observing a head-and-shoulders pattern, which traditionally signals further decline potential. Currently, BNB is struggling to maintain around the $950–$960 range, showing cautious sentiment among traders. The next crucial movement for BNB will depend on whether it can reclaim above $970 or if it will break down toward the $900 support level. Overall, this decline aligns with broader trends in the crypto market, reflecting bearish pressures.

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