$BNB (BNB/USDT) Faces Challenges in Sustaining Bullish Momentum

$BNB Long-term Analysis: Bullish

The BNB/USDT market has encountered heightened selling pressure, which has interrupted its recent upward trajectory. Despite showing strength in prior sessions, the pair is now in a corrective phase.

The green Exponential Moving Averages (EMAs) are converging with the price toward the red EMAs, signaling a potential shift in momentum. This technical setup highlights a critical juncture for the asset.

Over the past week, the pair has experienced a 3.35% dip, further emphasizing the selling pressure. Additionally, other technical indicators suggest the possibility of the price testing immediate support levels in the near term.

Investors should monitor these developments closely, as the outcome of this phase could determine the next significant move for $BNB