$BNBUSD has traded lower this morning following in the steps of the other major cryptocurrencies as nervousness seemingly erupts again. cryptotrading cryptocurrency Forex
To put the movement of BNB/USD into perspective for short-term traders, on the 2The loss of value did not happen in one day, but it highlights the bearish move Binance Coin has generated in one month alone, which also mirrors results from its major competitors which have also suffered a loss of value.
The recent move upward last week after the whirlwind of selling took BNB/USD to its lows for the month were not able to escape the grasp of the bearish trend which is still being demonstrated . Last night’s and this morning’s selloff once again have put BNB/USD within the crosshairs of skeptical traders who may believe more downsideIf BNB/USD is not able to sustain a move above the 375.0000 level, and maintains its current dance near the 370.0000 ratio this could prove to be a signal additional selling could be sparked.
Early last week’s dive towards the 336.0000 levels proved brief, but the recent test of 360.0000 may become a target for sellers. Traders are encouraged to use entry orders to make sure their price fills meet expectations, and they should have all of their risk management working while trading BNB/USD.Traders should not be overly ambitious with their goals and willing to cash in profits if they occur. If the 367.0000 level proves vulnerable near term, the 365.0000 to 360.
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