{"id":417774,"date":"2024-08-26T05:30:48","date_gmt":"2024-08-26T00:00:48","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=417774"},"modified":"2024-08-25T13:18:10","modified_gmt":"2024-08-25T07:48:10","slug":"why-bnb-might-be-bound-for-a-drop-and-461-could-be-the-target","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/why-bnb-might-be-bound-for-a-drop-and-461-could-be-the-target\/","title":{"rendered":"Why BNB might be bound for a drop &#8211; And $461 could be the target!"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Market sentiment around BNB turned bearish in the last few days.\u00a0<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Most metrics also looked bearish on the coin.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The bulls dominated the crypto market last week, allowing multiple cryptos to register price hikes. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, things seemed to have been changing for <\/span><a href=\"https:\/\/ambcrypto.com\/category\/binance-news\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">BNB<\/span><\/a><span style=\"font-weight: 400;\"> as a sell signal flashed on its chart. Let\u2019s have a look at the coin\u2019s state to better understand what to expect from it this week.\u00a0<\/span><\/p>\n<h2><b>BNB\u2019s price to plummet?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">CoinMarketCap\u2019s <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/bnb\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">data<\/span><\/a><span style=\"font-weight: 400;\"> revealed that the coin\u2019s price had risen by more than 6% in the last seven days. But the last 24 hours were bearish as the coin\u2019s chart turned red. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the time of writing, BNB was trading at $577.01 with a market capitalization of over $84.2 billion, making it the 4th largest crypto. The recent price decline was not unforeseen. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">AMBCrypto\u2019s look at Santiment\u2019s data revealed that investors were losing confidence in BNB for the past few days, which was evident from the decline in its weighted sentiment. Its social volume also declined, reflecting a dip in its popularity.\u00a0<\/span><\/p>\n<figure id=\"attachment_417779\" aria-describedby=\"caption-attachment-417779\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/BNB-BNB-12.38.40-25-Aug-2024.png\"><img decoding=\"async\" class=\"wp-image-417779 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/BNB-BNB-12.38.40-25-Aug-2024.png\" alt=\"BNB's social volume dropped\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/BNB-BNB-12.38.40-25-Aug-2024.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/BNB-BNB-12.38.40-25-Aug-2024-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/BNB-BNB-12.38.40-25-Aug-2024-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/BNB-BNB-12.38.40-25-Aug-2024-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/BNB-BNB-12.38.40-25-Aug-2024-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/BNB-BNB-12.38.40-25-Aug-2024-2048x693.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/BNB-BNB-12.38.40-25-Aug-2024-1200x406.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-417779\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">In the meantime, Ali, a popular crypto analyst, posted a <\/span><a href=\"https:\/\/x.com\/ali_charts\/status\/1827510453162963254?t=HYzy7EAyUYdCb_Nsitdc0Q&amp;s=19\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">tweet<\/span><\/a><span style=\"font-weight: 400;\"> hinting at a continued price decline. As per the tweet, BNB\u2019s TD sequential flagged a sell signal. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Therefore, AMBCrypto dug deeper to find out where the coin\u2019s price might drop in this fresh week.\u00a0<\/span><\/p>\n<h2><b>A closer look at BNB\u2019s state<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">AMBCrypto\u2019s look at the coin\u2019s <\/span><a href=\"https:\/\/cfgi.io\/bnb-fear-greed-index\/1d\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">fear and greed index<\/span><\/a><span style=\"font-weight: 400;\"> revealed that the metric had a reading of 61% at press time, meaning that the market was in a \u201cgreed\u201d phase.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> Whenever the metric hits this level, it suggests that the chances of a price correction are high. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Apart from that, Coinglass\u2019 data pointed out yet another bearish signal. As per our look, BNB\u2019s long\/short ratio registered a sharp downtick. This meant that there were more short positions in the market than long positions, indicating a rise in bearish sentiment around the coin.<\/span><\/p>\n<figure id=\"attachment_417780\" aria-describedby=\"caption-attachment-417780\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-25-at-12.43.10\u202fPM.png\"><img decoding=\"async\" class=\"wp-image-417780 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-25-at-12.43.10\u202fPM.png\" alt=\"BNB's long\/short ratio dropped\" width=\"2560\" height=\"667\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-25-at-12.43.10\u202fPM.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-25-at-12.43.10\u202fPM-300x78.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-25-at-12.43.10\u202fPM-1024x267.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-25-at-12.43.10\u202fPM-768x200.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-25-at-12.43.10\u202fPM-1536x400.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-25-at-12.43.10\u202fPM-2048x533.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-25-at-12.43.10\u202fPM-1200x313.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-417780\" class=\"wp-caption-text\">Source: Coinglass<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Hyblock Capital\u2019s data revealed that BB\u2019s whale vs retail delta dropped from 61 to 19, suggesting that whales were having less exposure in the market.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> For starters, this indicator ranges from -100 to 100, with 0 representing whales and retail positioned exactly the same. <\/span><\/p>\n<figure id=\"attachment_417781\" aria-describedby=\"caption-attachment-417781\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-25-at-12.48.22\u202fPM.png\"><img decoding=\"async\" class=\"wp-image-417781 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-25-at-12.48.22\u202fPM.png\" alt=\"\" width=\"2560\" height=\"1415\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-25-at-12.48.22\u202fPM.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-25-at-12.48.22\u202fPM-300x166.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-25-at-12.48.22\u202fPM-1024x566.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-25-at-12.48.22\u202fPM-768x425.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-25-at-12.48.22\u202fPM-1536x849.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-25-at-12.48.22\u202fPM-2048x1132.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-25-at-12.48.22\u202fPM-1200x663.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-417781\" class=\"wp-caption-text\">Source: Hyblock Capital<\/figcaption><\/figure>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Realistic or not, here <\/span><a href=\"https:\/\/ambcrypto.com\/calculator\/marketcap\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">BNB\u2019s market cap in BTC\u2019s terms<\/span><\/a><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">Therefore, we then assessed the coin\u2019s daily chart. We found that BNB was rejected to go adobe its resistance at $602.3. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Its Chaikin Money Flow (CMF) registered a downtick, hinting at a continued price decline in the coming days. If that happens, then it won\u2019t be surprising to watch the coin plummeting to $461.\u00a0<\/span><\/p>\n<figure id=\"attachment_417782\" aria-describedby=\"caption-attachment-417782\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/BNBUSDT_2024-08-25_12-47-40.png\"><img decoding=\"async\" class=\"wp-image-417782 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/BNBUSDT_2024-08-25_12-47-40.png\" alt=\"\" width=\"2560\" height=\"1375\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/BNBUSDT_2024-08-25_12-47-40.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/BNBUSDT_2024-08-25_12-47-40-300x161.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/BNBUSDT_2024-08-25_12-47-40-1024x550.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/BNBUSDT_2024-08-25_12-47-40-768x413.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/BNBUSDT_2024-08-25_12-47-40-1536x825.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/BNBUSDT_2024-08-25_12-47-40-2048x1100.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/BNBUSDT_2024-08-25_12-47-40-1200x645.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-417782\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BNB\u2019s key indicator flagged a sell signal, which might push the coin\u2019s price to $461.<\/p>\n","protected":false},"author":75,"featured_media":417783,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,6378,66,3,4,20],"tags":[6427],"class_list":["post-417774","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-binance-news","category-new-news","category-news","category-social","category-trading-view","tag-ambcrypto"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Why BNB might be bound for a drop - And $461 could be the target! 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