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The post <a href="https://coinpedia.org/price-analysis/with-cz-pleading-guilty-is-binances-bnb-price-falling-to-zero/">With CZ Pleading Guilty, Is Binance’s BNB Price Falling To Zero?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
<h2 class="wp-block-heading" id="h-what-happened-to-cz">What Happened To CZ?</h2> 
In breaking news, CZ steps down as the CEO of <a href="https://app.coinpedia.org/company/binance" target="_blank" class="profile-details">binance</a> <img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/10122626/info_icon.svg" alt="information" class="info-icons"> <a href="https://app.coinpedia.org/company/binance" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/09190601/link.svg"></a> <a href="https://www.binance.com/" target="_blank"> <img decoding="async" src="https://image.coinpedia.org/app_uploads/profile/1664610315244lexyqsklms.png" class="company_logo_img" target="_blank"></a> binance binance@miceneurol.com Centralised Exchange <a href="https://www.binance.com/" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/10161442/globe.svg"></a> <a href="https://www.linkedin.com/company/binance" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/09190603/li.svg"></a> <a href="https://twitter.com/binance" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/09190602/tw.svg"></a> <a href="https://www.youtube.com/binanceyoutube" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/10153100/yt.svg"></a> <a href="https://www.instagram.com/binance/" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/09190603/in.svg"></a> <a href="https://medium.com/@Binance" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/10153100/me.svg"></a> <a href="https://www.reddit.com/r/binance" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/10153059/rd.svg"></a> and pleads guilty to violating anti-money laundering requirements in Seattle. With this, Binance will now officially pay $4.3 Billion in criminal charges, one of the biggest in US history. Due to such sudden events, the BNB price fell from $270 to $220 within a day, going against the bullish <a href="https://coinpedia.org/price-prediction/bnb-binance-coin-price-prediction/">Binance price predictions </a>of 2023. 
Taking the role of CEO,&nbsp; Richard Teng, a former Abu Dhabi regulator, will now spearhead Binance. However, struggling to maintain a proper anti-money laundering program, the credibility of Binance takes a hit and warns of a market-wide correction.&nbsp; 
<h2 class="wp-block-heading" id="h-bnb-price-analysis-is-binance-token-going-down-to-zero">BNB Price Analysis: Is Binance Token Going Down To Zero?</h2> 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="463" src="https://image.coinpedia.org/wp-content/uploads/2023/11/22112838/BNBUSD_2023-11-22_10-55-06-1024x463.png" alt="" class="wp-image-247475" srcset="https://image.coinpedia.org/wp-content/uploads/2023/11/22112838/BNBUSD_2023-11-22_10-55-06-1024x463.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/11/22112838/BNBUSD_2023-11-22_10-55-06-300x136.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/11/22112838/BNBUSD_2023-11-22_10-55-06-768x348.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/11/22112838/BNBUSD_2023-11-22_10-55-06-1536x695.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/11/22112838/BNBUSD_2023-11-22_10-55-06-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/11/22112838/BNBUSD_2023-11-22_10-55-06.png 1825w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
Source- <a href="https://www.tradingview.com/x/rt9DnY06/">Tradingview</a> 
Crashing under the news of CZ resigning, the BNB price takes a critical hit, falling 10% within a day, making a bearish engulfing candle. The 10% drop cuts the Binance token price from $253 to $222; meanwhile, the day’s high was $273. 
The Binance price has recovered as the CZ tweets about the user funds being “SAFU,” which stands for Secure Asset Fund for Users.&nbsp; The market value for a single Binance token is $23 at press time, highlighting an intraday growth of 4.21%. 
From a technical standpoint, the daily price chart of Binance shows a sharp move often seen at black swan events. Therefore, the technical analysis may struggle to stand the test of such volatile times, but the reversal from $220 holds a bullish torch of reversal in BNB price.&nbsp; 
Technical indicators: 
EMA: The downfall breaks the 200D and 50D EMA, hitting the growing proximity of the two average lines. This reduces the golden crossover chances.&nbsp; 
RSI: With a sharp bearish move in BNB price, the RSI suddenly drops and approaches the oversold boundary. 
<h2 class="wp-block-heading" id="h-will-binance-price-rebound-above-250">Will Binance Price Rebound Above $250?</h2> 
With the intraday growth showing a possibility of a reversal, the growing developments can lead to sudden bearish outbreaks. Nevertheless, the BNB price can shoot past the $250 mark if the momentum sustains. On the flip side, a downfall under $200 can plunge the token price to $160.

With CZ Pleading Guilty, Is Binance’s BNB Price Falling To Zero?

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