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Binance Coin’s 9% Decline Strengthens this Notion About BNB and its Sellers

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Binance Coin had a healthy start to November, but it all went haywire for the bulls. The implosion of FTX brought many rallying coins to a screeching halt. Now, BNB has a bearish market structure on the higher timeframe charts, and sellers will be looking for an opportunity to position themselves short in the futures market. The Relative Strength Index (RSI) sunk beneath the neutral 50 level when BNB retraced all its gains to drop from $360 to $280. However, even though the On-Balance Volume (OBV) took a hit, it was near a zone of support which acted as resistance in October. Further dips on the OBV would be an added sign that sellers were here to stay. (AMBcrypto)

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