CandleFocus BNB Price Bearish Trap Ends Here? Futures Market Still Hints at Uncertainty
2025-01-14
Author: Content Editor
The Binance Coin (BNB) is currently in the red zone, experiencing a 4.24% drop in the past 24 hours and an 8.45% decrease in one week. Analysts have identified a rising wedge pattern on the weekly chart, suggesting a potential bearish reversal. BNB has broken out of the wedge at $666.30, putting it in a critical zone. Key resistance points are at $740 and $800, while a potential support level appears to be around $563. BNB price is also forming a narrowing wedge pattern, indicating a loss of bullish momentum. Traders are watching for a breakdown below $665 to $670, which could signal a deeper decline.
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