Binance Coin (BNB) Price Analysis and Prediction – Support Failed

As we speak was a tough day for cryptocurrency markets as over $40 billion in total marketcap was misplaced. Most cash exhibited double digit losses, and are toppling as soon as once more after bouncing off first help. Binance coin was no stranger to the bears because it additionally misplaced over 16% prior to now 24 hours. Let’s check out the charts and see if Binance can maintain the present help and speculate whether or not or not the massacre is over.

Binance Coin (BNB) Information

The most important drama with BNB as we speak was the flash crash of their BTC/BUSD pair to a low of $1800. BUSD is Binance’s new stablecoin which was launched with the assistance of Paxos. More than likely as a consequence of low liquidity, the BTC/BUSD buying and selling pair flash crashed earlier than orders may stabilize.

Chart: Binance

The excellent news is that solely about 20 BTC was exchanged throughout that point, which is insignificant in the case of affecting the market.

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