{"id":202783,"date":"2023-11-29T12:18:05","date_gmt":"2023-11-29T06:48:05","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=202783"},"modified":"2023-11-29T12:18:05","modified_gmt":"2023-11-29T06:48:05","slug":"bnb-fails-to-breach-240-heres-where-the-coin-might-head-next-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bnb-fails-to-breach-240-heres-where-the-coin-might-head-next-crypto-news\/","title":{"rendered":"BNB fails to breach $240, here&#8217;s where the coin might head next &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"single-post-author-top\">\n<p>Journalist<\/p>\n<\/div>\n<p>\n<span class=\"mvp-post-date updated\">Posted: November 29, 2023<br \/>\n<\/span><\/p>\n<\/div>\n<div>\n<p><i>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion.<\/i><\/p>\n<ul>\n<li><em>Binance Coin saw negative sentiment and weakened on-chain metrics in the aftermath of recent developments.<\/em><\/li>\n<li><em>The price charts signaled further losses were inbound and a bullish reversal was not yet in sight.<\/em><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/eng.ambcrypto.com\/search\/bnb\" data-wpel-link=\"internal\">Binance Coin [BNB]<\/a> suffered from volatility after news that CZ stepped down as CEO of Binance. The sentiment behind the exchange token on social media was negative and active addresses and daily transactions <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/eng.ambcrypto.com\/bnb-chain-heres-the-aftermath-of-czs-departure\/\" data-wpel-link=\"internal\">dropped<\/a>.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/eng.ambcrypto.com\/bnb-chain-struggles-post-czs-departure-what-now\/\" data-wpel-link=\"internal\">BNB Chain\u2019s<\/a> TVL, fees, and revenue also declined. The token trended downward over the past few days as well. Could an uptrend be established in the coming weeks?<\/p>\n<h4><strong>The former support at $240 was retested as support as BNB trended downward<\/strong><\/h4>\n<div id=\"attachment_80070\" style=\"width: 1950px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/engamb.sfo2.digitaloceanspaces.com\/wp-content\/uploads\/2023\/11\/28220523\/PP-1-BNB-price.png\" data-wpel-link=\"external\"><img decoding=\"async\" aria-describedby=\"caption-attachment-80070\" loading=\"lazy\" class=\"wp-image-80070 size-full\" src=\"https:\/\/engamb.sfo2.digitaloceanspaces.com\/wp-content\/uploads\/2023\/11\/28220523\/PP-1-BNB-price.png\" alt=\"BNB fails to breach $240, here's where it is likely headed to next\" width=\"1940\" height=\"1099\" \/><\/a><\/p>\n<p id=\"caption-attachment-80070\" class=\"wp-caption-text\">Source: BNB\/USDT on TradingView<\/p>\n<\/div>\n<p>The RSI on the one-day chart fell below neutral 50 on 21st November and remained below it since then. This showed a shift in momentum toward the bears. The market structure was also bearish as the former higher lows at $240 did not hold.<\/p>\n<p>The Fibonacci retracement levels showed that $227.1 was important as it was the 78.6% retracement mark. However, it was being retested for the second time in a week, with a drop as deep as $222.5. This signaled that further losses were likely.<\/p>\n<p>The On-Balance Volume (OBV) began to trend downward to highlight increased selling volume. To the south, the $220 support level could be important next.<\/p>\n<h4><strong>The liquidations heatmap agreed with the technical findings<\/strong><\/h4>\n<div id=\"attachment_80069\" style=\"width: 1876px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/engamb.sfo2.digitaloceanspaces.com\/wp-content\/uploads\/2023\/11\/28220518\/PP-1-BNB-Hyblock.png\" data-wpel-link=\"external\"><img decoding=\"async\" aria-describedby=\"caption-attachment-80069\" loading=\"lazy\" class=\"wp-image-80069 size-full\" src=\"https:\/\/engamb.sfo2.digitaloceanspaces.com\/wp-content\/uploads\/2023\/11\/28220518\/PP-1-BNB-Hyblock.png\" alt=\"BNB fails to breach $240, here's where it is likely headed to next\" width=\"1866\" height=\"1027\" \/><\/a><\/p>\n<p id=\"caption-attachment-80069\" class=\"wp-caption-text\">Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/hyblockcapital.com\/liquidationlevel-heatmap\" data-wpel-link=\"external\">Hyblock<\/a><\/p>\n<\/div>\n<p>AMBCrypto utilized Hyblock\u2019s liquidation levels heatmap with a look-back period of one month. It showed a huge number of liquidations would be triggered should BNB reach the $220 mark.<\/p>\n<p>This level had served as resistance back in September and the first half of October.<\/p>\n<hr \/>\n<p style=\"text-align: center\">Read <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/binancecoin-price-prediction\" data-wpel-link=\"internal\">Binance Coin\u2019s [BNB] Price Prediction<\/a> 2023-24<\/p>\n<hr \/>\n<p>Therefore, a drop to the $215-$220 area appeared likely for Binance Coin in the coming days. It remained to be seen whether prices would reverse after sweeping the liquidity to the south.<\/p>\n<p>Meanwhile, the $240 area was a place of interest should the downtrend of the exchange token reverse.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Journalist Posted: November 29, 2023 Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion. Binance Coin saw negative sentiment and weakened on-chain metrics in the aftermath of recent developments. The price charts signaled further losses were inbound and a bullish reversal was not [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":202784,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-202783","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/202783","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=202783"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/202783\/revisions"}],"predecessor-version":[{"id":202786,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/202783\/revisions\/202786"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/202784"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=202783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=202783"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=202783"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}