Why is BNB Down Today? Price Slips Below $960 as Traders Brace for Further Declines

BNB, the native token of the BNB Chain, has seen a drop below $960 as it failed to maintain gains after reaching resistance near $970. A significant uptick in trading volume signals large-scale sell orders, which led to a decline in price reaching as low as $942.06 before a minor recovery. Analysts have noted a head-and-shoulders pattern forming, often indicative of further price declines. Currently, BNB is attempting to stabilize around the $950–$960 range, amidst caution from traders. A break below $950 could lead to further losses, pushing towards support levels around $900, while reclaiming the $970 mark could indicate potential recovery. This price movement aligns with broader trends observed in the cryptocurrency market, where the CoinDesk 20 index also experienced a 1.6% decline during the same period.

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