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<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/volatile-crypto-markets-bitcoin-tumbles-bnb-coin-faces-hardship-despite-binance-support/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a> Coin</strong> (BNB) experienced volatile price movements last month, forming a channel and currently trading at the lower levels of this range. Meanwhile, <a href="https://coin-turk.com/bitcoinde-btc-isler-degisebilir-mi-iste-onemli-veriler" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/bitcoins-slow-decline-from-its-peak-of-around-32000-in-july-has-investors-focusing-on-the-rising-trend-line/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) continues to trade below $27,000. In the midst of these negative factors, a rise in BNB may not be likely.</p>
<p style="text-align: justify">A recent price analysis suggested that the support at $205 could be broken on October 10. Although BNB’s price dropped to $202.8, a clear downside breakout has not yet occurred. Here’s what traders and investors can expect from BNB in the near future.</p>
<h2 style="text-align: justify" id="bnb-coin-reviews">BNB Coin Reviews</h2>
<p style="text-align: justify">When analyzing the market structure of <a href="https://en.coin-turk.com/binances-bnb-faces-another-heavy-blow/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance Coin</a>, a downtrend was observed due to a drop towards the $205 support level on the 4-hour bullish order block. The price formed a low range (orange) at $203.9. Binance Coin (BNB) made a move towards the middle zone from $212.7 on October 10, but almost all gains were lost due to the overall market decline.</p>
<p style="text-align: justify">According to the charts, a close below $204 on the 4-hour market movements may have brought short positions to investors’ minds. Considering all these factors, there was no favorable environment for buyers to show strength. The Relative Strength Index (RSI) was at 42, and On-Balance Volume (OBV) continued its downward trend throughout October.</p>
<p style="text-align: justify">Additionally, the Chaikin Money Flow (CMF) had a value below -0.05, indicating a significant capital outflow from the market. When price movements and indicators are examined together, it can be assumed that BNB is likely to drop below $204.</p>
<p style="text-align: justify"><img decoding="async" class="aligncenter size-full wp-image-266019" src="https://coin-turk.com/wp-content/uploads/2023/10/bnb-usdt-1.jpg" alt="" width="778" height="431"></p>
<h2 style="text-align: justify" id="the-future-of-bnb-coin">The Future of BNB Coin</h2>
<p style="text-align: justify">On October 9 and 12, Open Interest (OI) experienced a rapid increase in the opposite direction when prices fell, as seen in the hourly chart below. This indicates an increase in the intense bearish sentiment in the market. Additionally, these price movements reflect the bears’ willingness to short the token.</p>
<p style="text-align: justify">Cumulative Volume Delta (CVD) experienced an increase on October 10. However, bulls could not sustain the pressure. CVD also saw a small decrease in the past two days. This suggests that BNB does not have real demand in the market and may face more short selling.</p>
<p style="text-align: justify"><img decoding="async" class="aligncenter size-full wp-image-266018" src="https://coin-turk.com/wp-content/uploads/2023/10/bnb-usdt-2.jpg" alt="" width="779" height="395"></p>
<div class="sorumluluk_reddi" style="text-align: justify"><strong>Disclaimer:</strong> The information in this article is not investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry risks, and should conduct their own research before making any transactions.
</div> Continue Reading: <a href="https://en.coin-turk.com/the-future-of-binance-coin-bnb-bearish-signals-and-price-analysis/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/the-future-of-binance-coin-bnb-bearish-signals-and-price-analysis/</a>

The Future of Binance Coin (BNB): Bearish Signals and Price Analysis

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