BNB's recent price rally, which saw a nearly 20% increase over the past week, is showing signs of losing momentum. Despite the broader crypto market downturn, BNB's rise has been notable, but on-chain and technical indicators now point to potential challenges ahead. The Chaikin Money Flow (CMF) indicator has dropped to -0.02, signaling a bearish divergence, while the long/short ratio has remained below one since October 6, reflecting growing negative sentiment among futures traders.
Currently trading near $1,263, BNB faces potential downside risks, with prices possibly falling to $1,100 if bearish pressure persists. Traders are advised to monitor these indicators closely as they could signal further price movements in the near term.
BNB Price Rally Faces Resistance Amid Bearish Sentiment
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