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Unlike other major altcoins that have made significant gains by surpassing their prices in January of this year, <a href="https://en.coin-turk.com/binance-relaunches-the-bitcoin-button-game-amidst-challenges/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a>‘s <a href="https://en.coin-turk.com/bnb-chain-bnb-will-it-reach-its-end-of-year-target-analysts-comments/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BNB</a> continues to remain under selling pressure following major losses due to a disturbing <a href="https://newslinker.co/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">news</a> flow that has upset investors. As investors speculate on when BNB could recover, a warning came from experienced crypto analyst Ali Martinez.
<h2 style="text-align: justify" id="strong-bnb-of-binance-under-regulatory-pressure-strong">BNB of Binance under Regulatory Pressure</h2>
The first and most crucial factor keeping BNB’s price under pressure was the announcement in early June of this year that the US Securities and Exchange Commission (SEC) had sued crypto exchange Binance. This announcement pushed BNB off the cliff, causing all its gains at the time to be wiped out, and the altcoin’s price fell below its annual opening level. For a few months after the news, BNB mostly traded sideways, and there was no significant volatility except for a few small rises and falls until late November.
Changpeng Zhao’s resignation as CEO of the crypto exchange as part of an agreement with the US government on November 21 also fueled the decline in the altcoin. Since then, BNB’s price has been hovering around $230, and many investors are asking whether and when the altcoin will reverse its trend and enter a bullish phase.
<h2 style="text-align: justify" id="strong-is-it-the-right-time-to-invest-in-bnb-strong">Is It the Right Time to Invest in BNB?</h2>
It is clearly seen that a descending triangle formation has formed on the weekly time frame price chart of Binance’s BNB. Experienced crypto analyst Ali Martinez implied in his evaluation on his personal X (formerly Twitter) account on December 10 that the altcoin’s price has not yet escaped the down momentum.
The descending triangle formation is a chart formation that occurs when the resistance line connecting the peak points is sloping downward and the support line maintains its horizontal position, and it is a continuation formation for the downtrend.
<img loading="lazy" decoding="async" loading="lazy" class="aligncenter size-full wp-image-287341" src="https://coin-turk.com/wp-content/uploads/2023/12/Binance-BNB-Altcoin.jpeg" alt="" width="1600" height="1084">
Martinez added that it might be wise for investors to stay away from BNB for a while due to its recent performance. However, he underlined that investors interested in buying BNB should wait for it to close a candle above the price level of $260 at the time of Zhao’s resignation, which would likely confirm that the altcoin has entered a bullish stage. Continue Reading: <a href="https://en.coin-turk.com/binances-bnb-a-warning-from-crypto-analyst-amid-losses/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/binances-bnb-a-warning-from-crypto-analyst-amid-losses/</a>

Binance’s BNB: A Warning from Crypto Analyst Amid Losses

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