✨ Gate Post New Year Giveaway - Show Your 2025 Crypto Flag and Win $200 Rewards!
💰 Select 10 high-quality posters, each will receive a $10 reward
How to Join:
1️⃣ Follow Gate_Post
2️⃣ Post with #2025CryptoFlag# hashtag, share your 2025 crypto flag and reasons
3️⃣ Post must be at least 60 words and receive at least 3 likes
Post Examples:
🔹 Investment Goals: What are your crypto goals for 2025?
🔹 Trading Strategy: What strategies will you adopt in 2025?
🔹 Personal Growth: What new crypto knowledge or skills will you learn in 2025?
🔹 Community Sharing: How will you boost your influence on Ga
Binance Coin Price Analysis: BNB Crashes 10% on SEC Lawsuit, is $250 In Sight?
Yesterday’s announcement that the SEC has sued Binance turned the whole market red, and BNB was quick to crash.
Key Support levels: $265
Key Resistance levels: $291
Volatility spiked as soon as the news that the SEC has filed a lawsuit against Binance broke out. The price of BNB fell by 10% within two hours. The rest of the market also followed suit, and most charts turned bearish.
The current support for BNB is found at $265 and is likely to be tested if sentiment remains bearish. The resistance is at $291.
Chart by TradingViewTrading Volume: The volume spiked as sellers rushed to the exit. In the process, BNB fell under $300.
RSI: The daily RSI reached the oversold area at under 30 points. This shows an extreme level of fear in the market.
MACD: The daily MACD turned bearish as soon as the news broke out. At this time, bears have full control of the price action.
Chart by TradingView## Bias
The bias for BNB is bearish.
Short-Term Prediction for BNB Price
The market is still digesting the news, and more volatility can be expected. For this reason, a test of the key support at $265 appears likely before buyers return. Binance has promised to fight the SEC, so this story is likely to continue developing for some time.