The post BNB Faces Bearish Pressure Despite Booming Ecosystem appeared on BitcoinEthereumNews.com.

BNB has been in the spotlight in the last few weeks, with rising trading volume and growing interest in its ecosystem, including meme coins like TST. Despite the hype, BNB’s price is down more than 3% in the last seven days, reflecting continued market uncertainty. Its DMI shows weak trend strength and growing selling pressure, while the Ichimoku Cloud indicates a bearish setup. With EMA lines showing no clear direction, BNB faces a critical moment as it could either regain momentum or drop below $600 if the downtrend continues. BNB DMI Shows Buyers Tried to Gain Control, But Sellers Are Rising Again BNB’s DMI chart shows its ADX at 14, reflecting weak trend strength after touching a low of 11.1 yesterday and briefly rising to nearly 16 a few hours ago. ADX, or the Average Directional Index, measures the strength of a trend without indicating its direction. It ranges from 0 to 100, with values above 25 indicating a strong trend and values below 20 suggesting a weak or undefined trend. With ADX at 14, BNB is currently in a low-momentum phase, indicating that the market lacks a clear directional trend. BNB DMI. Source: TradingView. +DI is at 22.5, up from 15.2 yesterday but down from 30.3 a few hours ago, suggesting that buying pressure increased but then weakened. Meanwhile, -DI is at 23.5, rising from 14.2 one day ago, indicating growing selling pressure. The proximity of +DI and -DI shows a tug-of-war between buyers and sellers, reflecting market indecision. With ADX low and +DI and -DI close to each other, BNB price is likely to remain range-bound until a stronger trend emerges. If +DI crosses above -DI, it could signal a bullish reversal, while -DI maintaining dominance could lead to further downside. Ichimoku Cloud Shows a Bearish Setup The…

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Filed under: News - @ February 23, 2025 6:18 pm