BNB's market structure remains bearish, but recent price movements hint at a breakout.
Realistic or not, here’sWith the regulatory searchlight continuing to loom large over Binance across different countries, BNB has struggled, with the price stuck in a tight range over a month-long period.
However, buyers could not cross the $254 hurdle, leading to a 4.2% price drop on 3 July. This highlighted the selling pressure still present at the resistance level. The latest bullish rally saw the Chaikin Money Flow flip positive, ranging between +0.05 to +0.25. This showed that traders were actively looking to back BNB in the short term while waiting for new developments around its regulatory issues.
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