BNB price reached a new all-time high on December 4 but is now facing a downtrend, as indicated by several technical indicators. The surge in BNB’s ADX to 31, up from just 12 the day before, suggests that the bearish momentum is gaining strength, signaling the potential for more downward movement in the short term.

The price is currently below the Ichimoku Cloud, with weakening bullish signals and increased selling pressure. If this trend continues, BNB could experience further corrections, with the potential to test lower support levels in the coming days.

BNB Current Downtrend Indicates More Corrections Ahead

BNB’s ADX has surged to 31, up from 12 just a day ago, indicating that the current trend is gaining strength. The increase in ADX suggests that the trend has become more defined, and a reading above 25 typically signals a strong trend.

Since BNB price is currently in a downtrend, this higher ADX indicates that the bearish momentum is intensifying, and the price could experience further downward pressure if this trend continues.

ADX, or the Average Directional Index, measures the strength of a trend regardless of whether it is bullish or bearish. Values above 25 indicate a strong trend, while values below 20 suggest weak or non-defined trends.

With BNB ADX at 31, this confirms that the downtrend is strengthening. Unless a reversal occurs, the market is likely to see continued selling pressure in the short term.

BNB Ichimoku Cloud Shows Bearish Signals

BNB price is currently below the Ichimoku Cloud, suggesting that it’s in a bearish phase. The green span of the cloud has turned thin and is losing its momentum, while the leading span lines appea

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Author: Tiago Amaral