$BNX Price Surge: A Major Correction Is Coming – Here’s Why
BNX (BinaryX) has seen a parabolic price increase, but warning signs suggest a sharp correction is imminent. Let’s break down why this rally is unsustainable and why BNX could soon drop to $0.20.
Overbought RSI & Weak Momentum
The RSI is above 70, signaling extreme overbought conditions. Historically, such levels lead to profit-taking and sharp pullbacks. Additionally, bearish divergence suggests weakening momentum, a classic precursor to a trend reversal.
Pump-and-Dump Behavior & Volume Spikes
BNX has seen multiple volume spikes, a sign of manipulative price action. This erratic movement is common in pump-and-dump schemes, where early buyers cash out, leaving retail traders stuck in the crash.
Fibonacci & Liquidity Gaps
The price has surged past key Fibonacci levels, but without strong support, a retracement is likely. The 0.618 Fibonacci level aligns with key liquidity zones, making it a high-probability target for a pullback. Additionally, liquidity gaps left behind in the rally suggest that institutions may push the price lower to fill these inefficiencies.
Target Price After Correction: $0.20
With BNX in overbought territory, manipulation evident, and liquidity gaps unfilled, a drop to $0.20 is highly likely. This aligns with historical support levels and would represent a full retracement of the pump-driven price action.
Conclusion: Prepare for a Major Drop
The overheated RSI, abnormal volume spikes, and liquidity inefficiencies indicate that BNX is at risk of a steep decline. If you’re holding, consider locking in profits, setting stop losses, and preparing for high volatility.