<ul><li>The Crypto markets undergo a dramatic shift favoring bears amidst mounting bullish pressure, casting shadows over altcoins.</li><li>Crypto Capo predicts BNB&#39;s resistance at $330-$350, advising shorting due to emerging bearish signs and urging caution for investors.</li><li>With the Spot Bitcoin ETF decision pending, investors eagerly await its influence on market trajectory, potentially impacting BNB and other altcoins&#39; fate.</li></ul>Amidst mounting bullish pressure in the crypto markets, a dramatic shift has favored the bears, casting a shadow over altcoins. The <a href="https://cryptotale.org/impending-spot-bitcoin-etf-approval-a-game-changer-or-potential-pitfall/" rel="noopener noreferrer nofollow">anticipated</a> approval decision for the <a href="https://www.cnbc.com/2023/12/26/spot-bitcoin-etf-approval-may-be-coming-in-january-2024.html" rel="noopener noreferrer nofollow">Spot Bitcoin ETF,</a> which was expected to infuse strength, left the market in a precarious balance.Bitcoin&#39;s sideways trading has created an equilibrium between the bulls and bears, resulting in a drain on altcoins. This equilibrium, where both sides exhibit equal strength, has led to a significant downturn for several altcoins, causing extreme bearish trends to surface.Renowned crypto analyst Crypto Capo shared his insights in a Telegram group, outlining a projection for BNB. He <a href="https://t.me/CryptoCapoTG/296" rel="noopener noreferrer nofollow">predicted </a>that BNB will face a critical resistance zone between $330 and $350, emphasizing the formation of bearish divergences. Capo advised seeking short positions around these levels, implying a potential downside for BNB.BNB is trading at<a href="https://coinmarketcap.com/currencies/bnb/" rel="noopener noreferrer nofollow"> $297.83</a>, marking a decline of 3.14% within the last 24 hours and a decrease of 4.68% over the past 7 days. The 24-hour trading volume stands at $985,797,477. The outlook for BNB reflects the broader market sentiment as the cryptocurrency struggles to break through the resistance barrier. This resistance zone has proven to be a formidable obstacle in recent trading sessions, stalling BNB&#39;s upward momentum.Read full article at<a href="https://cryptotale.org/bnb-faces-critical-resistance-analysts-bearish-forecast-amidst-market-struggles/" rel="noopener noreferrer nofollow"> CryptoTale.</a>

BNB Faces Critical Resistance: Analyst's Bearish Forecast Amidst Market Struggles

CryptoTale

Other articles published on Jan 8, 2024

Honduras Special Economic Zone Recognized Bitcoin as Unit of Account

OKX Exchange Expands Offerings with Solana-Based Jito and Bonk Tokens

The Top Meme Coins to Consider in 2024: Best Picks for Investors

Bitcoin miner CleanSpark boosts efficiency with significant Bitmain S21 deal

Santiment Draws Attention to Bitcoin and These Five Altcoins: "The Number of Investors Increased ...

Metis Surges 220% in 30 Days; Rebel Satoshi, Dogecoin and Shiba Inu Eye Monumental 20x Surge

Join our free newsletter for daily crypto updates!