CryptoSignals News
Join our Telegram

BNB (BNB/USDT) Shows Weakening Trend as Price Falls Below Key Moving Averages

Estimated Reading Time: 3 minutes

Article Rating:
Based on 1 vote
Login to rate this article.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more

BNB (BNB/USDT) Shows Weakening Trend as Price Falls Below Key Moving Averages

The analysis of BNB against Tether in recent times has been in a broader downtrend since the peak in October. Consistently, the price has been forming lower highs, but each relief rally has run into the thick resistance, confirming persistent sell-side pressure as the price dipped 4.84% to the south.

Meanwhile, this underperformance can be linked to the widespread market deleveraging, with $646 million in liquidations. Additionally, a prevailing risk-off sentiment in the market is contributing to the downturn, with the greed-fear index signaling caution among traders.

As it stands, the recent daily candle indicates a renewed downward push after a failed attempt to recover above the short-term averages. Additionally, the Guppy Multiple Moving Averages (GMMA) and Stochastic RSI are signaling an imminent move to the south, with a bearish sentiment.

Currently, BNB trades at $832.93 with over 161,000 daily traded volumes.

BNB (BNB/USDT) Shows Weakening Trend as Price Falls Below Key Moving Averages
BNBUSDT-Daily Chart

Technical Indicators

Major Resistance Levels: $852, $875, and $922

Major Support Levels: $800, $770, and $750

Technical Analysis

Technically, BNB against Tether appears to be on a strong downtrend; the pair’s price is dipping to the south from what seems to be its peak in October. As it stands, all short-term EMAs remain under long-term bands, clarifying bearish divergence and a show of prolonged bearish momentum. In recent times, the price has attempted to reclaim the $860–$880 level but was rejected strongly, indicating sellers remain dominant, as the price declined by about 5%.

From another angle, the oscillator is curling down from 77, signaling a typical continuation of the downtrend. This suggests continuation of the broader daily downtrend unless BNB reclaims 880 with strong momentum.

Meanwhile, @Degen_Hardy has expressed optimism, suggesting the pair is undergoing a classic breakout and a retest of the trend line. The analyst believes the current price action could lead to a bigger move in the coming days.

BNB/USDT Analysis: Facing Sharp Intraday Breakdown

Previously, on the 4-hour timeframe, BNB/USDT was oscillating around $869 and $886, hoping to gear up for an upside move. However, the momentum seems to be dropping, as the price drops abruptly toward $800. Currently, the short-term GMMA seems to be extending the current stance downward into the long-term bands, signaling a transition from equilibrium to renewed bearish pressure.

Meanwhile, the Stochastic RSI displays an extreme oversold condition, with the lines operating downwardly around 4.27, hoping for a reversal. However, the current oversold situation alone does not guarantee a reversal; it only signals weakening selling strength.

BNB (BNB/USDT) Shows Weakening Trend as Price Falls Below Key Moving Averages
BNBUSDT-4H Chart

 

You can purchase crypto coins here. Buy Crypto

Recent News

September 06, 2022

SNX (SNXUSD) Sellers Continue Crashing the Market Downward

SNXUSD Analysis – Sellers Continue Crashing the Market Downward SNXUSD sellers continue crashing the market downward after a change of character (CHOCH) on the 18th of August, 2022. Until April, the market was in an uptrend with higher highs and higher lows being formed. The lower high formed...
Read More
February 12, 2025

Zksync (ZK/USDT) Bearish Traders Resume Activities

The market for Zksync against the Tether has seen a prolonged downtrend in recent trading periods as the price forms a series of lower lows. However, since its recent peak around $0.1200, the pair has been showing a clear sign of a downtrend. To this end, recent price action around the Guppy Multip...
Read More
July 04, 2023

Bitcoin Cash Price Stalls as Whales Stop Buying

Bitcoin Cash (BCH) had a stellar performance in June, surging over 230% and breaking above $300 for the first time since May 2022. But the bulls seem to have lost their momentum in July, as the price has corrected by 10% so far. One possible reason for this slowdown is the change in behavior of [&h...
Read More

Join Our Free Telegram Group

We send 3 VIP signals a week in our free Telegram group, each signal comes with a full technical analysis on why we are taking the trade and how to place it through your broker.

Get a taste of what the VIP group is like by joining now for FREE!

arrow Join our free telegram