阿冷K线解密
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Bearish
Chat with $BNB , BNB has lost support from on-chain activity for 364 days, how does it look in the long run?
Key points:
· The price of BNB has fallen by 30% since its all-time high, and it may have completed its bull market cycle.
· How long will the decline in BNB price last?
The price of BNB has been falling since its all-time high of $793.86 in December 2024. Although the price briefly halted its decline and rebounded on February 3, it failed to maintain the upward momentum and fell again.
Today, the price of BNB faces the risk of breaking out of a long-term rising parallel channel. Doing so would confirm that a bear market has begun. Let's look at the candlestick chart to see how likely this situation is.
First, it confirms the $680 area as a resistance level.
Second, it is breaking the rising trend parallel channel that has existed since March 2024. This confirms a bearish long-term trend, pushing the BNB price down to $440.
Additionally, the RSI and MACD generated bearish divergence before the decline. Foreign investment institutions believe the market is clearly bearish, expecting the price to drop to $440.
The decline in BNB activity indicators reflects this bearish outlook. After the MEME coin frenzy triggered by CZ's dog photo reveal, the BNB chain experienced a revival.
However, since then, trading volume, fees, and revenue have sharply decreased. The trading volume of decentralized exchanges has also declined, indicating that the growth was a one-off event rather than a sign of sustainable growth.
❓ What’s next for BNB? (Here comes the work)
Wave counting is also bearish, consistent with price trends and indicator readings. The most likely count suggests that BNB has completed a five-wave upward movement that started in June 2022 and reached its all-time high in December 2024.
If so, the price has begun an A-B-C correction!
The potential target price for the bottom of wave A is $440, with wave B fluctuating towards $660, and wave C possibly ending at the $312 0.786 Fibonacci retracement support level.
Alternatively, if the closing price is above $660, the price of BNB is still in an upward trend. This seems unlikely at the moment. #币安上线GPS
Key points:
· The price of BNB has fallen by 30% since its all-time high, and it may have completed its bull market cycle.
· How long will the decline in BNB price last?
The price of BNB has been falling since its all-time high of $793.86 in December 2024. Although the price briefly halted its decline and rebounded on February 3, it failed to maintain the upward momentum and fell again.
Today, the price of BNB faces the risk of breaking out of a long-term rising parallel channel. Doing so would confirm that a bear market has begun. Let's look at the candlestick chart to see how likely this situation is.
First, it confirms the $680 area as a resistance level.
Second, it is breaking the rising trend parallel channel that has existed since March 2024. This confirms a bearish long-term trend, pushing the BNB price down to $440.
Additionally, the RSI and MACD generated bearish divergence before the decline. Foreign investment institutions believe the market is clearly bearish, expecting the price to drop to $440.
The decline in BNB activity indicators reflects this bearish outlook. After the MEME coin frenzy triggered by CZ's dog photo reveal, the BNB chain experienced a revival.
However, since then, trading volume, fees, and revenue have sharply decreased. The trading volume of decentralized exchanges has also declined, indicating that the growth was a one-off event rather than a sign of sustainable growth.
❓ What’s next for BNB? (Here comes the work)
Wave counting is also bearish, consistent with price trends and indicator readings. The most likely count suggests that BNB has completed a five-wave upward movement that started in June 2022 and reached its all-time high in December 2024.
If so, the price has begun an A-B-C correction!
The potential target price for the bottom of wave A is $440, with wave B fluctuating towards $660, and wave C possibly ending at the $312 0.786 Fibonacci retracement support level.
Alternatively, if the closing price is above $660, the price of BNB is still in an upward trend. This seems unlikely at the moment. #币安上线GPS
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