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BNB fell below the 1k threshold, Trading Volume 50% Slump



Yesterday, BNB fell from a high of $1,079 to $991, a drop of 7.8%, and is now stuck below $1,000. The trading volume in the last 24 hours plummeted by 17%, and the open positions in futures also declined by 4%, to put it simply, leveraged funds are retreating.

The technical outlook is not very optimistic: the RSI indicator is at 38, and the Bollinger Bands have touched the lower band. The key short-term support is at $980; if it cannot hold, it will test the range of $950-$935.

But don't be too pessimistic – the mid-term fundamentals are still bullish. This wave seems more like a short-term profit-taking, not a reversal signal. Traders suggest: set stop-loss at $935-$950, wait for Trading Volume to increase before adding positions, now is the defensive phase.

Monitor the $980 line; if it breaks, you need to reduce your position.
BNB-6.92%
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