### $BNB Critical Updates ###
BNB’s current market price is $514.88, which represents a 7.0% decrease since yesterday. Over the past week, BNB’s value has seen a 10.1% reduction. The trading activity for BNB has been quite active,
The technical analysis reveals that BNB has recently broken below a key ascending trendline support. This trendline was a significant level of support, drawn from connecting various swing lows from mid-March to late June. The breach occurred on Wednesday, and as of Thursday, BNB’s price has declined by an additional 3%, trading around $537.8.
If BNB fails to reclaim the trendline and it turns into pullback resistance, we could see the price potentially drop by 11%, retesting the March 19 low of $495.8. This scenario is supported by the current bearish sentiment in the market, as indicated by the long-to-short ratio being below one.
Moreover, (RSI) 17 signaling bearish momentum, typically suggests that the downward momentum may continue, leading to further declines in BNB’s price.