Tag Archives: short-squeeze

BNB Faces Bearish Trend but Short Squeeze Potential Looms Near $950 Resistance

Posted on by
Reply

**BNB Faces Bearish Trend but Short Squeeze Potential Looms Near $950 Resistance**

*Published on BitcoinEthereumNews.com*

Binance Coin (BNB) price recently dropped below the $1,000 mark, driven by shrinking on-chain activity and declining decentralized exchange (DEX) volume on the Binance Smart Chain network. This downturn pushed BNB to test the critical $827 support level, a zone that held firm during previous months. Notably, this support area, significant in August and September, once again demonstrated strong demand, preventing further decline.

On the daily chart, BNB’s bearish trend remains intact. However, the internal price structure reveals short-term bullish shifts following the breach of a lower high at $906.5. Traders are closely watching the resistance near the $950 zone, a key battleground established in November, which could challenge any upward momentum.

Liquidation data from CoinGlass highlights high-leverage clusters between $910 and $920. This concentration of positions may trigger a short squeeze, creating an opportunity for a price spike before any potential resumption of the downtrend.

### What Caused the Recent Binance Coin Price Drop Below $1,000?

The notable decline of Binance Coin below $1,000 stems mainly from diminishing on-chain activity paired with reduced DEX volume. These factors reflect a cooling demand on the Binance Smart Chain, sparking bearish sentiment among market participants.

Despite this, the robust $827 support level tested during the recent drop previously served as a reliable floor during August and September. This demand zone helped absorb selling pressure and could play a crucial role in stabilizing the price.

### How Is Binance’s Leadership Change Impacting BNB Prices?

Binance’s recent shift in leadership strategy—from a focus on hyper-growth to a more balanced platform approach—has the potential to subtly influence BNB’s price trajectory. Analysts suggest this transition aims to enhance regulatory compliance and sustainability, which may help stabilize the ecosystem amid mounting external pressures.

At the same time, ongoing legal challenges, including the North Dakota lawsuit against Binance, continue to introduce uncertainty that dampens investor confidence. Financial experts at Bloomberg report that such regulatory scrutiny has historically led to price declines in the range of 10-15%.

—

As volatility continues in the market, traders and investors should monitor these key support and resistance levels carefully. Understanding the evolving technical landscape and leadership dynamics behind Binance Coin can help make more informed decisions in this unpredictable environment.
https://bitcoinethereumnews.com/tech/bnb-faces-bearish-trend-but-short-squeeze-potential-looms-near-950-resistance/

XRP price prediction: Can ETF hype push it past KEY danger zone?

Posted on by
Reply

Key Takeaways Why is XRP rallying? On-chain metrics and the launch of XRP spot ETFs stirred short-term bullish sentiment and drove gains. Is this a bullish reversal? Not yet. A move beyond $2. 55 is necessary to flip the trend bullishly. The OBV volume indicator showed that buyers were weak. The new SEC-approved Cboe rule has enabled institutions to expand their crypto ETFs to hold a broader basket of digital assets. One such institution was Franklin Templeton. AMBCrypto reported that the well-known asset manager wanted to add Ripple [XRP] to their portfolio to widen the scope of the Franklin Crypto Index ETF. The investment company has also launched its own spot XRP product, XRPZ trust. This news sent XRP prices flying higher on Monday, the 24th of November. The $2. 05-$2. 15 region had been a short-term resistance zone, but was now being retested as a demand zone. The higher timeframe structure of XRP remained bearish despite the short-term bullishness. Falling exchange reserves and prevalent short-selling meant that a short-squeeze was possible. How high can this rally go? These gains are not enough for XRP bulls to celebrate The 1-day chart showed a large imbalance (white box) left behind during the 10/10 crash. In the weeks since then, this region acted as an effective resistance. The downturn in November, and especially after the 11th of November, saw heavy selling volume. This was enough to force the XRP price to make a new swing low and keep its downtrend going. As things stand, the daily timeframe structure remains bearish. On the 4-hour chart, the internal structure was bullish. The most recent lower high, set at $2. 15 on the 20th of November, has been breached. Yet, the OBV has not climbed past the recent lower high. This was a sign of weak buying volume on the way higher. In the past three months, this is not the first time XRP has breached a local lower high on the 4-hour chart. These moves tended to reach the region that launched an impulse move. An example is the rally to $2. 55 on the 10th of November. This level was a high from earlier in the month. Once retested, it saw the next downward impulse move begin, which ended recently. Therefore, XRP bulls should remain cautious. A rally to $2. 4-$2. 5 is possible, but might have the same result again.
https://bitcoinethereumnews.com/tech/xrp-price-prediction-can-etf-hype-push-it-past-key-danger-zone/