🚨 $BNX /USDT – EXTREME VOLATILITY AS PRICE PLUNGES🚨
BNX/USDT is witnessing a massive sell-off, crashing to $1.0621 (-10.09%), with no signs of recovery yet. The coin attempted a brief upside move, hitting a 24-hour high of $1.1839, but was met with aggressive resistance, leading to a steep decline. The 24-hour low of $1.0611 is now being tested, and if this support level breaks, BNX could enter price discovery mode to the downside, accelerating further losses. Adding to the uncertainty, Binance has announced an upcoming BNX redenomination and suspension on March 18, which could be fueling the ongoing liquidation event.
For traders, caution is advised as market sentiment remains bearish, and momentum indicators suggest strong downward pressure. However, if BNX holds above $1.06, a relief bounce toward $1.10 - $1.12 could be possible before further downside. If this support fails, the next potential drop could extend toward $1.00 or below. Short-term traders may look for quick scalping opportunities, while risk-averse traders should wait for stability before considering entries. Stay alert and manage risk wisely in this high-volatility scenario! 🚀💥
