đ¨đ¨ BNBUSDT Weekly Analysis: Bearish Clouds Loom Ahead for Binance Coin?
đ Weekly Close Signals More Downside
Weâve analyzed Binance Coin (BNBUSDT) multiple times, and the chart continues to signal lower prices. The recent weekly close has introduced another bearish development. Letâs break it down:
đ˘ Three Green Weeks â Not as Bullish as It Seems
Last week marked the third consecutive green week for BNBâthe first time this has happened since May/June 2024. While this may appear bullish at first glance, the current market context tells a different story. When the overall trend is negative, a three-week price bounce without upward momentum could actually be a bad sign.
â ď¸ Weak Bullish Momentum â Early 2024 vs. Late 2024
Earlier this year, three green weeks would have triggered a bull run, but now in late 2024, it has only led to sideways movement and a lower high. This shows a significant lack of bullish momentum, further confirmed by the decreasing trading volume since March.
đť Testing $300-$333 â Weak Support Ahead
BNB is now testing the $300 to $333 price range, a crucial level that it has revisited several times in 2023 and 2024. This is a weak support levelâit may hold the price for a short time, but thereâs uncertainty around how long it will last.
âł Whatâs Next?
The current correction isnât over yet, but once it is, we can expect long-term growth to follow. New All-Time Highs in 2025 could be in sight after this final major drop in 2024.
đŽ Patience is key as we approach the next phase of the market cycle.
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