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Can Binance Coin Defy This Pattern and Avoid Further Decline?
Binance Coin (BNB) has been facing growing bearish pressure in recent times, with various technical and market metrics pointing to a potential correction. As the token’s price action approaches a critical juncture, it remains unclear whether BNB can defy this pattern and avoid further decline.
A rising wedge pattern on the weekly chart has been forming, which often signals a bearish outcome for the asset. The failure of BNB to push beyond key resistance levels has contributed to market uncertainty, leading to mounting pressure. At press time, the token’s price was trading at $676.54, representing a 2.38% decline in the last 24 hours.
Given the precarious position it finds itself in, investors are left wondering whether or not BNB can buck the trend and defy this pattern of bearish activity.
Source: ambcrypto.com
