CandleFocus Binance Coin traders pull back ahead of CZ’s release: what’s next for BNB price?
2024-09-26
Author: Content Editor
Binance Coin (BNB) buyers are hesitant and cautious ahead of the release of former Binance CEO Changpeng Zhao (CZ) from prison on September 29. There are concerns that CZ's release could lead to a "sell-the-news" event, causing a price dip. Key indicators suggest a potential decline in BNB's price, with diminishing buying pressure and emerging bearishness. On-chain indicators also support a bearish outlook. However, if BNB maintains its current downward trend in buying pressure, there is a possibility of a rebound after possible dips. The predicted October rally could see BNB climb past $652 and potentially reach $700, indicating a positive long-term outlook for the cryptocurrency.
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