Status

Coin

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Binance Coin (BNB) has corrected 10% below its all-time high, with a slightly bearish RSI of 49.91.</li>
 <li>Despite the correction, rising MACD and high social dominance suggest a possible bullish rebound.</li>
</ul>
<p>Binance Coin [BNB] hit a record high last week, but it seems the bulls are now retreating, leading to a predicted correction.</p>
<p>As of now, the token’s price is more than 12% below the all-time high. So, how might BNB wrap up the week?</p>
<h2 id="bnb-s-current-trading-status">BNB’s Current Trading Status</h2>
<p>Looking at BNB’s 5-day chart, the RSI is slightly below the neutral 50 level at around 49.91, indicating a balanced but somewhat bearish momentum.</p>
<p>However, the MACD line is above both the signal line and zero, suggesting some bullish momentum is starting to form.</p>
<p>The current trading was near $644, significantly below the recent high, showing that the correction is fully underway.</p>
<p>The exponential moving average also puts the price below it, strengthening the bearish trend.</p>
<p>Interestingly, BNB’s social volume had a significant spike that coincides with the price drop.</p>
<h2 id="bnb-s-social-dominance-and-trading-volume">BNB’s Social Dominance and Trading Volume</h2>
<p>During high social volume periods, BNB’s dominance also spikes, indicating it remains a hot topic in crypto communities and will likely continue to be for the foreseeable future.</p>
<p>The trading volume for BNB derivatives has risen by 157.99%, maintaining a steady growth over the past ten days.</p>
<p>The Long/Short ratio across various platforms shows a dominance of long positions, especially with ratios over 1.5 on OKX and top traders on <a href="https://coineagle.com/exchange/binance/" rel="noopener noreferrer nofollow">Binance</a>.</p>
<p>This bias towards long positions could indicate a generally bullish sentiment among active traders.</p>
<p>Given the current technical setup and market sentiment, BNB may continue to see some volatility throughout the week as it attempts to find a new balance post-correction.</p>
<p>If the momentum holds and the broader market remains relatively bullish, the bulls might successfully surpass the all-time high of $717 by the end of Friday.</p>
<p>In conclusion, BNB is likely to have a rather volatile week.</p>

BNB Retreats from All-Time High: Key Predictions for the Week Ahead

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CoinEagle.com

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