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Fears of BNB liquidations loom despite bullish sentiment

Press Releases Crypto News AMB-Crypto Fears of BNB liquidations loom despite bullish sentiment

Traders targeting $340 could be liquidated if BNB retraces.
If the Funding Rate becomes extremely negative, the price might head toward $400.

The price of Binance Coin [BNB] joined other cryptocurrencies as the broader market continued to climb. At press time, BNB’s price was $326.93.

But if AMBCrypto’s observation is right, traders with long positions face a liquidation risk.

For those unfamiliar with the crypto terrain, liquidation occurs when a leverage position is automatically closed. This could be because the margin balance of the traders is insufficient.

It could also be because the price of the asset involved has breached the stop-loss area.

Not the time for high-leverage bets

At press time, AMBCrypto’s analysis of BNB’s Liquidation Levels showed that there was a cluster of liquidity from around $329 up to $340.

Liquidation Levels are estimated price points where large-scale liquidations might take place. This region mentioned is colored blue in the chart below.

Go to Source to See Full Article
Author: Victor Olanrewaju

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