BNB Technical Analysis: Bulls Resurface Within The Falling Wedge

As the BNB prices fail to surpass the $400 mark, a bearish breakdown of the consolidation range leads to a falling wedge pattern. Key technical points: The BNB market value drops 18% overnight. The market price struggles to find support at the descending trendline. The 24-hour trading volume of Terra is $4.98 Billion, indicating a 77% rise. Past Performance of BNB BNB prices fail to sustain above the $400 mark after a bearish breakdown of the prolonged consolidation in the 4-hour chart ignites a downfall. The downfall finds bearish support with a boom in selling pressure evident by the increasing trading volume. Moreover, the bearish patterns account for a 40% devaluation in the last week. Source-Tradingview BNB Technical Analysis BNB price action showcases a lower price rejection and delays the bearish breakout of the descending support trendline. Moreover, the small bullish candle forming at the trendline marks the possibility of a reversal. The super trend indicator shows a bearish trend in motion, as the market prices remain under the ATR line. The Stochastic RSI shows a sharp fall in the K and D lines representing a bear cycle in action. However, the lines approach the oversold zone reflecting a high possibility of a crossover leading to a reversal. This adds points to the bullish reversal ideology from the descending trendline. The DMI indicator shows a supreme bearish trend as the DI lines continue to diverge in the bea...