Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain
  • Web 3
    • NFT
    • Metaverse
  • Regulation
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Why the 133k Bitcoin bet of MSTR in 2025 is not nearly over!

2025-06-01

Bitcoin Maxi does not buy a hype around new crypto -holding substances

2025-06-01

Bitcoin can go to the impending correction mode for ‘weeks and weeks’, according to analyst Willy Woo – here is why

2025-06-01
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
Facebook X (Twitter) Instagram
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain

    VeChain wants to transform the supply chain from Amazon with confidential evidence

    2025-06-01

    Binance and Pakistan IT ministerie Rollen Blockchain Education Program out for 80,000 students

    2025-06-01

    Omnia -Protocol works together with Flare Networks to unlock more private and interoperable Web3 Future

    2025-06-01

    Hodooi and Ice Open Network are a powerful alliance for Web3 Social Expansion

    2025-05-31

    Transition to an internet supported by people

    2025-05-31
  • Web 3
    • NFT
    • Metaverse
  • Regulation

    Humans leads $ 3,490,000 from the US government, various companies in bank fraud: Doj

    2025-06-01

    American authorities charge six people in connection with alleged $ 66,000,000 Food Stamp -Fraud schedule

    2025-05-31

    American authorities punish the Philippines-based company for alleged computer infrastructure for crypto pig breaking stop

    2025-05-30

    FBI is looking for victims who are connected to FunNull Pig Butching Crypto Investment SCAM

    2025-05-30

    JPMorgan Chase received a fine of $ 566,082 due to alleged not responding to regulator during the energy crisis

    2025-05-30
  • Analysis

    Bitcoin can go to the impending correction mode for ‘weeks and weeks’, according to analyst Willy Woo – here is why

    2025-06-01

    Cronos Tart Crypto Market Downtick on Friday as asset manager Canary Capital Files for CRO ETF

    2025-05-31

    XRP multi-time frame breakdown: here comes what is there

    2025-05-31

    XRP -Price risks crash under $ 2 if the correction holds, here is why

    2025-05-31

    XRP price objectives recovery – signs of strength arise

    2025-05-31
  • Learn

    What Is Asset Tokenization? How It Works and Why It’s Important

    2025-05-30

    What Is DeFi 2.0 and Why It Matters

    2025-05-27

    Crypto Margin Trading: How It Works and How to Manage the Risks

    2025-05-26

    Wat is circulerende levering in cryptocurrency?

    2025-05-23

    What Is a DEX (Decentralized Exchange)?

    2025-05-21
  • Blog
  • Contact
    • Tech7685@gmail.com
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Altcoins»BNB is up 5%, but THIS is a concern – What’s going on?
Altcoins

BNB is up 5%, but THIS is a concern – What’s going on?

2024-09-03No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email
Avatar

contributor

Posted: September 4, 2024

  • BNB rose over 5%, but technical indicators pointed to a possible bearish divergence.
  • Transaction volumes on the BNB chain have fallen by more than 33% in the past week, indicating declining network activity.

Binance coin [BNB] was the biggest gainer among the ten largest cryptos by market capitalization, after rising more than 5% in the past 24 hours.

BNB was trading at $533 at the time of writing, a significant jump from the 24-hour low of $503. Despite these gains, BNB risked a bearish reversal if the bullish trend in the broader market does not hold.

Will BNB’s bullish momentum hold?

The price of BNB reflects that of Bitcoin [BTC]. Therefore, the likelihood of these token gains continuing to rise depends on whether the broader market maintains positive sentiment.

BNB’s daily chart showed a possible bearish divergence. While the price rose, technical indicators suggested that the uptrend remained weak after BNB formed a double top pattern on the daily chart.

BNB formed the first peak in late July after the price jumped from below $500 and tested a key resistance at $600. Later, a downtrend followed, forming a neckline at $464.

The uptrend resumed before failing again after reaching $600.

BNB will confirm a bearish breakout if it falls below $464. However, this bearish thesis will be debunked if the current uptrend continues and BNB breaks resistance above the second peak.

Source: TradingView

The Relative Strength Index at 47 showed that despite the gains, sellers remained in control. The RSI line had to cross above the signal line to confirm the bullish momentum and negate the double top pattern.

See also  250 million users and expanding with new trading options

Another key indicator that showed a weakening uptrend was the Directional Movement Index (DMI). The positive DI (blue) remained below the negative DI (orange), showing a potential bearish reversal.

Data from Hyblock Capital showed a high concentration of liquidations at $548. Therefore, this level could be a strong resistance point as traders buying into the rally take profits once BNB approaches $548 to contain losses.

Source: Hyblock Capital

BNB Chain sees usage decreasing

Usage of the BNB chain has also declined, which could further hinder BNB’s ability to recover.

Data from DappRadar showed that the number of unique active wallets on the network has dropped by 25% over the past seven days. Volumes are also down more than 30% from approximately $850 million to $350 million.


Read Binance Coin’s [BNB] Price forecast 2024–2025


This declining network usage could indicate reduced market interest in BNB.

Coinglass data shows that BNB funding rates have been mostly negative over the past month, indicating general bearish sentiment among traders.

Source: Coinglass

Next: Can Aave Reach $450? Yes, but there are important conditions

Source link

BNB concern Whats
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin Maxi does not buy a hype around new crypto -holding substances

2025-06-01

1,000 crypto projects disappear! – how it could generate the next always season

2025-06-01

This hot new Altcoin in Defi is running the heads

2025-06-01

Mantra for $ 0.32 If whaling leaves intensification: is to be at a turning point?

2025-05-31
Add A Comment

Comments are closed.

Top Posts

Analyst Says Crypto Investors Are Sleeping on One Large-Cap Altcoin, Sees Bottom for Solana-based Memecoin

2024-12-29

Ethereum price just saw a major technical correction, but the upside remains limited

2023-09-12

Web3’s great app is… | Web3 Daily

2024-06-11
Editors Picks

Starknet’s Quantum Leap NFT Drop Sparks August 30 Memorial Madness!

2023-08-28

Why Did Bitcoin Fall Today? An increase to $73,000 again will depend on…

2024-11-02

Bitcoin: What Rising Volumes Say About BTC Investors

2024-01-13

Trump rates can reduce the prices of Bitcoin Miner abroad, warns Mining Exec

2025-04-09

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Why the 133k Bitcoin bet of MSTR in 2025 is not nearly over!

Bitcoin Maxi does not buy a hype around new crypto -holding substances

Bitcoin can go to the impending correction mode for ‘weeks and weeks’, according to analyst Willy Woo – here is why

Get Informed

Subscribe to Updates

Get the latest news and Update from Bitcoin Platform about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
© 2025 Bitcoinplatform.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$104,749.840.27%
  • ethereumEthereum(ETH)$2,514.53-1.05%
  • tetherTether USDt(USDT)$1.00-0.01%
  • rippleXRP(XRP)$2.15-0.86%
  • binancecoinBNB(BNB)$653.80-0.69%
  • solanaSolana(SOL)$153.73-1.30%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.191729-0.60%
  • tronTRON(TRX)$0.2680350.14%
  • cardanoCardano(ADA)$0.67-1.16%
  • suiSui(SUI)$3.301.84%
  • hyperliquidHyperliquid(HYPE)$32.11-1.30%
  • chainlinkChainlink(LINK)$13.950.10%
  • avalanche-2Avalanche(AVAX)$20.710.15%
  • stellarStellar(XLM)$0.265329-0.55%
  • bitcoin-cashBitcoin Cash(BCH)$403.05-2.44%
  • unus-sed-leoUNUS SED LEO(LEO)$8.670.54%
  • the-open-networkToncoin(TON)$3.131.78%
  • shiba-inuShiba Inu(SHIB)$0.0000132.32%
  • hedera-hashgraphHedera(HBAR)$0.1676750.86%
  • litecoinLitecoin(LTC)$87.720.69%
  • polkadotPolkadot(DOT)$4.06-0.65%
  • moneroMonero(XMR)$327.471.03%
  • bitget-tokenBitget Token(BGB)$4.69-1.43%
  • ethena-usdeEthena USDe(USDE)$1.000.02%
  • daiDai(DAI)$1.000.01%
  • pepePepe(PEPE)$0.0000120.79%
  • piPi(PI)$0.641.88%
  • uniswapUniswap(UNI)$6.211.83%
  • aaveAave(AAVE)$245.94-1.48%
  • bittensorBittensor(TAO)$421.112.77%
  • okbOKB(OKB)$50.09-0.19%
  • aptosAptos(APT)$4.761.06%
  • nearNEAR Protocol(NEAR)$2.44-0.04%
  • crypto-com-chainCronos(CRO)$0.102463-3.47%
  • internet-computerInternet Computer(ICP)$4.941.75%
  • ondo-financeOndo(ONDO)$0.831.01%
  • ethereum-classicEthereum Classic(ETC)$16.94-0.01%
  • gatechain-tokenGateToken(GT)$19.23-0.06%
  • mantleMantle(MNT)$0.681.24%
  • official-trumpOFFICIAL TRUMP(TRUMP)$11.331.99%
  • kaspaKaspa(KAS)$0.0860010.50%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2138530.95%
  • usd1World Liberty Financial USD(USD1)$1.00-0.02%
  • vechainVeChain(VET)$0.0241220.25%
  • render-tokenRender(RENDER)$3.930.98%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.760.27%
  • ethenaEthena(ENA)$0.3105242.76%
  • worldcoin-wldWorldcoin(WLD)$1.14-0.62%
  • filecoinFilecoin(FIL)$2.560.15%
  • bitcoinBitcoin(BTC)$104,749.840.27%
  • ethereumEthereum(ETH)$2,514.53-1.05%
  • tetherTether USDt(USDT)$1.00-0.01%
  • rippleXRP(XRP)$2.15-0.86%
  • binancecoinBNB(BNB)$653.80-0.69%
  • solanaSolana(SOL)$153.73-1.30%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.191729-0.60%
  • tronTRON(TRX)$0.2680350.14%
  • cardanoCardano(ADA)$0.67-1.16%
  • suiSui(SUI)$3.301.84%
  • hyperliquidHyperliquid(HYPE)$32.11-1.30%
  • chainlinkChainlink(LINK)$13.950.10%
  • avalanche-2Avalanche(AVAX)$20.710.15%
  • stellarStellar(XLM)$0.265329-0.55%
  • bitcoin-cashBitcoin Cash(BCH)$403.05-2.44%
  • unus-sed-leoUNUS SED LEO(LEO)$8.670.54%
  • the-open-networkToncoin(TON)$3.131.78%
  • shiba-inuShiba Inu(SHIB)$0.0000132.32%
  • hedera-hashgraphHedera(HBAR)$0.1676750.86%
  • litecoinLitecoin(LTC)$87.720.69%
  • polkadotPolkadot(DOT)$4.06-0.65%
  • moneroMonero(XMR)$327.471.03%
  • bitget-tokenBitget Token(BGB)$4.69-1.43%
  • ethena-usdeEthena USDe(USDE)$1.000.02%
  • daiDai(DAI)$1.000.01%
  • pepePepe(PEPE)$0.0000120.79%
  • piPi(PI)$0.641.88%
  • uniswapUniswap(UNI)$6.211.83%
  • aaveAave(AAVE)$245.94-1.48%
  • bittensorBittensor(TAO)$421.112.77%
  • okbOKB(OKB)$50.09-0.19%
  • aptosAptos(APT)$4.761.06%
  • nearNEAR Protocol(NEAR)$2.44-0.04%
  • crypto-com-chainCronos(CRO)$0.102463-3.47%
  • internet-computerInternet Computer(ICP)$4.941.75%
  • ondo-financeOndo(ONDO)$0.831.01%
  • ethereum-classicEthereum Classic(ETC)$16.94-0.01%
  • gatechain-tokenGateToken(GT)$19.23-0.06%
  • mantleMantle(MNT)$0.681.24%
  • official-trumpOFFICIAL TRUMP(TRUMP)$11.331.99%
  • kaspaKaspa(KAS)$0.0860010.50%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2138530.95%
  • usd1World Liberty Financial USD(USD1)$1.00-0.02%
  • vechainVeChain(VET)$0.0241220.25%
  • render-tokenRender(RENDER)$3.930.98%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.760.27%
  • ethenaEthena(ENA)$0.3105242.76%
  • worldcoin-wldWorldcoin(WLD)$1.14-0.62%
  • filecoinFilecoin(FIL)$2.560.15%