#bnb
The BNB coin reached an all-time high of $1,375 yesterday, after a partial recovery from last weekend's declines.
Today, the price dropped by about 10% as the bullish momentum began to wane.
Technical indicators (MACD) show signs of a bearish crossover, indicating a potential continuation of the decline.
The negative funding rate (-0.015%) on derivatives platforms reflects traders' pessimism and an increase in short positions.
This trend suggests that confidence in the continued rise is waning and that the market may experience a correction soon.
If selling pressure continues, the price could drop to support levels of $1,192 and $1,048.
However, if strong buying demand returns, BNB may attempt to break the previous high and reach a new peak.
Cryptonews
