Crypto Analyst Claims Binance Coin Could Drop to $44

Well-known analyst has warned that Binance Coin (BNB) could go down aggressively. Is it on its way to $44?

since the fall of ftx token (FTT), investors fear that other exchanges may complete the token, such as BNB, CRO, etc. same fate, In addition, there is also a fear that FTT is being declared a security will do a set dangerous precedent for bnb.

Crypto experts have pointed out, “It is possible that Binance uses its own coins (Binance USD). stablecoin and BNB token), which are in the top 10 capitalization for reinvestment. If the assumption is correct, the risk of cascading liquidation following the example of FTX cannot be ruled out.

Amidst the chaos, a well-known analyst with the Twitter handle “Profit Blue” shared that BNB could drop Aggressively for $44.

Binance Coin (BNB) Will Fall To $44

The analyst shared that the BNB chart is forming a double-top, a bearish pattern on the monthly time frame. Price closed below the neckline at $325.722, retested it, and failed to close above it.

The analyst gives the share a target of around $44 via the charts.

BNB to $44
source: Twitter

The chart also shows several times that $216 has given BNB price a nice bounce. If BNB price is not in the $216 area, no major support exists.

bnb chart
source: trading viewBNB/USDT, Binance

The Reversal Pattern That Sent Bitcoin From $69,000 to $15,000

profit blue claims That BNB is forming the same reversal pattern that sent Bitcoin from $69,000 to $15,000. Bitcoin formed a similar double-top pattern with a $35,000 neckline on the monthly time frame. After breaching the neckline, bitcoin price dropped by more than 50%, currently trading around $16,600.

Will BNB Fall Aggressively Like Bitcoin?

btc usd price
source: trading viewBNB/USDT, Binance

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BeInCrypto has reached out to the company or the person involved in the story for an official statement regarding the recent development, but has yet to hear back.


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