Just like BTC, BNB has broken down from its support level, flipping it into resistance.
Now, we can use this as a short setup, by taking advantage of a rejection from its bearish trendline and resistance zone.
This should be a solid short play, considering not just crypto, but major asset class are taking a hit as well. Hence, we should see the same downside movement from crypto, especially altcoins. #BNB_Market_Update $BNB
$WLFI is showing rejection from a strong resistance zone around 0.17 - 0.18, an area where heavy selling pressure appeared previously. After multiple failed attempts to break above this level, the current structure signals weakness and a potential corrective move.
If price fails to reclaim the resistance, the most likely scenario is a continuation to the downside, targeting lower liquidity zones. Possible pullback targets are around 0.15 and further down near 0.13.
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Grayscale Submits BNB ETF Application to SEC Grayscale has submitted an S-1 application for a BNB ETF to the U.S. Securities and Exchange Commission (SEC). According to Odaily, this move marks a significant step in Grayscale's efforts to expand its offerings in the cryptocurrency market. The application is part of Grayscale's strategy to provide investors with more options for gaining exposure to digital assets. The submission of the S-1 form is a preliminary step in the regulatory process, and it remains to be seen how the SEC will respond to this proposal.