#TopCoinsJune2024 $BNB Price Analysis: Signs of Weakness 👀

Binance Coin ($BNB ) price has retested its daily resistance level at $612.5. But watch out! It again faced rejection on September 27, leading to a 10.6% drop over the next five days. Currently, BNB is trading slightly higher around $548, approaching its ascending trend line, formed by connecting multiple lows since the beginning of August. 📈

If $BNB breaks below this trend line and closes below the 200-day exponential moving average (EMA), which is around $529.6, we could see a further 10% drop, approaching the September 6 low at $471.3. You don’t want to miss that play! 😬

The Moving Average Convergence/Divergence (MACD) indicator is also supporting this drop, having signaled a bearish crossover on Tuesday. The MACD line slipped below the signal line, generating a clear sell signal. Additionally, the histogram bars are growing red below the neutral line at zero. Guess what this suggests? That BNB price might be losing momentum! 🚫

As if that wasn't enough, the Relative Strength Index (RSI) on the daily chart has dropped sharply to 44, below the neutral level of 50. A cross back to levels below this mark generally indicates that bearish momentum is gaining traction. Watch out for the signs! ⚠️