Binance Coin (BNB) Price Caught in Crucial Area Amid Liquidity Rush
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Binance Coin (BNB) experienced a significant price dip on Monday, falling below $400, but has since recovered and is now approaching the $500 psychological level. The coin's immediate future hinges on overcoming high liquidity zones at $520.65 and $463.23, as indicated by the liquidation heatmap.
The Chaikin Money Flow (CMF) metric suggests strong investor accumulation, with a reading of 0.04. This indicates that BNB’s price could likely retest $500 and potentially rise to $520 if the buying pressure persists in the market.
Despite this bullish outlook, the Moving Average Convergence Divergence (MACD) still shows a negative momentum, suggesting that the uptrend may not be strong. Should the negative divergence continue, BNB may oscillate between $478.60 and $490.
A surge in buying could push BNB to higher resistance levels at $524.60, while another market downturn might see the coin's price drop to $404.30, making the current price region a pivotal point for future movements.
Kaynak: beincrypto.com ↗
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