BNB is close to $ 10 and is rapidly backing off in an attempt to regain ground in the face of this impending decline.
The native cryptocurrency of exchange Binance (BNB) today is suffering one of the biggest losses in the cryptocurrency market. Going from $ 16 to $ 12 in less than 24 hours, which is -26.7%. The situation is not easy at all for the majority of cryptocurrencies in the market, which are now reaching 100% of the momentum started in mid-December again.
At BNB we currently have support at the levels where it is, around $ 12. This represents 100% of the previous momentum in fibonacci retracements. The price momentarily touched the exact $ 10 but now it is receding a bit in what we would call a pullback, it is impossible to predict if the fall would only reach these levels.
Without a doubt we should already have an upward rebound again that will take the cryptocurrency above $ 15. The RSI can be seen in the graph that is going out for over-sale. Following the previous movements, it can be seen how in these situations the price recovers ground and begins to rise considerably again. We hope that in this opportunity the same will happen and we will not see any more significant losses in the price.