{"id":647430,"date":"2024-10-11T19:30:39","date_gmt":"2024-10-11T19:30:39","guid":{"rendered":"https:\/\/www.wncen.com\/?p=647430"},"modified":"2024-10-11T14:10:34","modified_gmt":"2024-10-11T14:10:34","slug":"failed-recovery-sparks-fears-of-deeper-losses-for-bnb","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/analysis\/bnb\/failed-recovery-sparks-fears-of-deeper-losses-for-bnb\/","title":{"rendered":"BNB Under Siege: Failed Recovery Sparks Fears of Deeper Losses"},"content":{"rendered":"

BNB<\/span><\/a> finds itself under renewed selling pressure as a recent recovery attempt falls short, leaving the cryptocurrency vulnerable to further losses. Despite a brief upward movement, BNB’s failure to break through key resistance levels has sparked concerns about a deepening decline. With technical indicators signaling potential weakness ahead, the question now is whether the token can regain its footing or if further losses are inevitable.<\/span><\/p>\n

As bearish sentiment intensifies, this analysis aims to evaluate the technical indicators signaling weakness in BNB’s price action and assess whether the asset can stage a recovery or face more declines. By exploring key support levels, <\/span>market<\/span><\/a> sentiment, and price trends, the goal is to determine BNB’s next move and the likelihood of a bullish reversal or sustained bearish momentum.<\/span><\/p>\n

Key Technical Indicators Flash Warning Signs<\/strong><\/h2>\n

BNB has recently entered pessimistic territory on the 4-hour chart, dipping just below the 100-day Simple Moving Average (SMA) and approaching the crucial $531 <\/span>support<\/span><\/a> level. This drop below the 100-day SMA indicates weakening strength, and with sellers taking control, the <\/span>cryptocurrency<\/span><\/a> faces the potential for more losses.<\/span><\/p>\n

\"BNB\"
BNB falls below the 100-day SMA while drawing closer to $531 | Source: BNBUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n

An analysis of the 4-hour Relative Strength Index (RSI) shows that the signal line has dropped below the 50% threshold toward 42%, suggesting that buying pressure is waning, as the RSI moves deeper into <\/span>bearish<\/span> territory. Typically, an RSI reading below 50% implies that sellers are gaining control, which could lead to downward pressure on the price.<\/span><\/p>\n

Related Reading: BNB Battles Persistent Bearish Pressure, Will $500 Be The Next Stop?<\/a><\/div>\n

After facing resistance at $587, BNB has shown significant downbeat movement on the daily chart, marked by the formation of a strong bearish candlestick. The price has now fallen toward the <\/span>100-day SMA<\/span><\/a>, signaling mounting selling <\/span>pressure<\/span>. If the negative trend continues, BNB may experience additional declines, leading to a reduction in buying interest.<\/span><\/p>\n

\"BNB\"
BNB encounters strong resistance at the $587 level | Source: BNBUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n

Furthermore, a closer look at the RSI on the 1-day chart shows that the signal line has once again dropped below the 50% threshold, now sitting at 48%, after previously rising above it. Unless the bulls step in to shift momentum, the market could be set for more drops, as the current RSI level suggests weakening buying strength and heightened bearish control.<\/span><\/p>\n

Trading Strategy: Navigating BNB Bearish Pressure<\/strong><\/h2>\n

BNB\u2019s recent price action indicates potential continued declines if downbeat <\/span>momentum<\/span><\/a> intensifies. If the price hits the critical $531 mark and closes below it, this could pave the way for further losses, possibly driving the asset down toward the $500 level.<\/span><\/p>\n

Related Reading: BNB Price Tops $600: Can the Rally Continue?<\/a><\/div>\n

However, should buyers step in and regain control at the $531 level, there is a chance for a bullish reversal and the price will start moving upward toward the 605 resistance level, especially if the RSI shows signs of <\/span>recovery<\/span><\/a>.<\/span><\/p>\n

\"BNB\"
BNB is trading at $567 on the 1D chart | Source: BNBUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image from Shutterstock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

BNB finds itself under renewed selling pressure as a recent recovery attempt falls short, leaving the cryptocurrency vulnerable to further losses. Despite a brief upward movement, BNB’s failure to break through key resistance levels has sparked concerns about a deepening decline. With technical indicators signaling potential weakness ahead, the question now is whether the token can regain its footing or if further losses are inevitable. As bearish sentiment intensifies, this analysis aims to evaluate the technical indicators signaling weakness in BNB’s price action and assess whether the asset can stage a recovery or face more declines. By exploring key support levels, market sentiment, and price trends, the goal is to determine BNB’s next move and the likelihood of a bullish reversal or sustained bearish momentum. Key Technical Indicators Flash Warning Signs BNB has recently entered pessimistic territory on the 4-hour chart, dipping just below the 100-day Simple Moving Average (SMA) and approaching the crucial $531 support level. This drop below the 100-day SMA indicates weakening strength, and with sellers taking control, the cryptocurrency faces the potential for more losses. An analysis of the 4-hour Relative Strength Index (RSI) shows that the signal line has dropped below the 50% threshold toward 42%, suggesting that buying pressure is waning, as the RSI moves deeper into bearish territory. Typically, an RSI reading below 50% implies that sellers are gaining control, which could lead to downward pressure on the price. Related Reading: BNB Battles Persistent Bearish Pressure, Will $500 Be The Next Stop? After facing resistance at $587, BNB has shown significant downbeat movement on the daily chart, marked by the formation of a strong bearish candlestick. The price has now fallen toward the 100-day SMA, signaling mounting selling pressure. If the negative trend continues, BNB may experience additional declines, leading to a reduction in buying interest. Furthermore, a closer look at the RSI on the 1-day chart shows that the signal line has once again dropped below the 50% threshold, now sitting at 48%, after previously rising above it. Unless the bulls step in to shift momentum, the market could be set for more drops, as the current RSI level suggests weakening buying strength and heightened bearish control. Trading Strategy: Navigating BNB Bearish Pressure BNB\u2019s recent price action indicates potential continued declines if downbeat momentum intensifies. If the price hits the critical $531 mark and closes below it, this could pave the way for further losses, possibly driving the asset down toward the $500 level. Related Reading: BNB Price Tops $600: Can the Rally Continue? However, should buyers step in and regain control at the $531 level, there is a chance for a bullish reversal and the price will start moving upward toward the 605 resistance level, especially if the RSI shows signs of recovery. Featured image from Shutterstock, chart from Tradingview.com<\/p>\n","protected":false},"author":608,"featured_media":647433,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83365],"tags":[92835,11427,79524,79611,16393,14763,91599,85676],"class_list":["post-647430","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bnb","tag-bearish-candlesticks","tag-bnb","tag-bnbusd","tag-bnbusdt","tag-relative-strength-index","tag-rsi","tag-simple-moving-average","tag-sma"],"acf":[],"yoast_head":"\nBNB Under Siege: Failed Recovery Sparks Fears of Deeper Losses<\/title>\n<meta name=\"description\" content=\"BNB finds itself under renewed selling pressure as a recent recovery attempt falls short, leaving the token vulnerable to further losses.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life. My parents are literally the backbone of my story. They\u2019ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won\u2019t trade them for anything else in this world. I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments. When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency. Trust me, I\u2019ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that\u2019s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets. My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies. Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is. One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others. I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams. I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I\u2019m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top. I aspire to be a boss someday, having people work under me just as I\u2019ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.","sameAs":["https:\/\/x.com\/NFTwerey"],"url":"https:\/\/www.wncen.com\/author\/godspowerowie\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"BNB Under Siege: Failed Recovery Sparks Fears of Deeper Losses","url":"http:\/\/www.wncen.com\/analysis\/bnb\/failed-recovery-sparks-fears-of-deeper-losses-for-bnb\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.wncen.com\/analysis\/bnb\/failed-recovery-sparks-fears-of-deeper-losses-for-bnb\/"},"thumbnailUrl":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/10\/photo_57853077_x.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/10\/photo_57853077_x.jpg?fit=600%2C400"},"articleSection":"BNB","author":[{"@type":"Person","name":"Godspower Owie"}],"creator":["Godspower Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bearish candlesticks","bnb","bnbusd","bnbusdt","relative strength index","rsi","simple moving average","sma"],"dateCreated":"2024-10-11T19:30:39Z","datePublished":"2024-10-11T19:30:39Z","dateModified":"2024-10-11T19:30:39Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"BNB Under Siege: Failed Recovery Sparks Fears of Deeper Losses\",\"url\":\"http:\\\/\\\/www.wncen.com\\\/analysis\\\/bnb\\\/failed-recovery-sparks-fears-of-deeper-losses-for-bnb\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.wncen.com\\\/analysis\\\/bnb\\\/failed-recovery-sparks-fears-of-deeper-losses-for-bnb\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/photo_57853077_x.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/photo_57853077_x.jpg?fit=600%2C400\"},\"articleSection\":\"BNB\",\"author\":[{\"@type\":\"Person\",\"name\":\"Godspower Owie\"}],\"creator\":[\"Godspower Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bearish candlesticks\",\"bnb\",\"bnbusd\",\"bnbusdt\",\"relative strength index\",\"rsi\",\"simple moving average\",\"sma\"],\"dateCreated\":\"2024-10-11T19:30:39Z\",\"datePublished\":\"2024-10-11T19:30:39Z\",\"dateModified\":\"2024-10-11T19:30:39Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/10\/photo_57853077_x.jpg?fit=600%2C400","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/647430"}],"collection":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/users\/608"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/comments?post=647430"}],"version-history":[{"count":1,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/647430\/revisions"}],"predecessor-version":[{"id":647441,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/647430\/revisions\/647441"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/media\/647433"}],"wp:attachment":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/media?parent=647430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/categories?post=647430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/tags?post=647430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}