Category: technology

The post BNB Faces Bearish Trend but Short Squeeze Potential Looms Near $950 Resistance appeared on BitcoinEthereumNews.com. Binance Coin (BNB) price recently dropped below $1,000 due to shrinking on-chain activity and declining DEX volume, testing the critical $827 support level that held firm in previous months. This support zone, significant in August and September, once again demonstrated strong demand. BNB’s bearish trend persists on the daily chart, with internal structure showing short-term bullish shifts after breaching a lower high at $906.5. Resistance looms at the $950 zone, a key battleground from November that could challenge upward momentum. Liquidation data indicates high-leverage clusters between $910-$920, potentially triggering a short squeeze before any downtrend resumption, according to CoinGlass metrics. Discover why Binance Coin price fell below $1,000 and key support levels to watch. Explore technical analysis for informed trading decisions in this volatile market. What Caused the Recent Binance Coin Price Drop Below $1,000? Binance Coin (BNB) price experienced a notable decline below the $1,000 mark primarily due to diminishing on-chain activity and reduced decentralized exchange (DEX) volume on the Binance Smart Chain network. This drop tested the robust $827 support level, which previously acted as a demand zone during August and September, providing a buffer against further downside. Market participants observed that these factors contributed to a broader bearish sentiment, though short-term optimism emerged from structural shifts in price action. How Is Binance’s Leadership Change Impacting BNB Prices? The recent shift in Binance’s leadership from a hyper-growth focus to a more balanced platform approach could influence BNB’s trajectory in subtle ways. Analysts note that this transition aims to enhance regulatory compliance and sustainability, potentially stabilizing the ecosystem amid external pressures. However, ongoing legal challenges, such as the North Dakota lawsuit against Binance, introduce uncertainty that weighs on investor confidence and BNB prices. According to reports from financial experts at Bloomberg, such regulatory scrutiny has historically led to 10-15%…