3 reasons why BNB price risks another 30% decline by January
BNB has entered the breakdown stage of its prevailing ascending triangle pattern alongside some negative fundamentals that can push price further down. BNB (BNB), the native token of the Binance crypto exchange, is under threat of undergoing a significant price correction in the coming weeks, based on a mix of technical and fundamental indicators. BNB triangle breakdown continues From a technical perspective, BNB has entered the breakdown stage of its multi-month ascending triangle pattern, a trend continuation indicator. The breakdown could last until the price reaches the level that comes to be at the length equal to the triangle's maximum height. In other words, BNB's ascending triangle breakdown target is near $170, down about 30% from the current price levels, as shown below. The BNB/USD pair could drop to the said level by January 2023. BNBUSD three-day price chart featuring ascending triangle breakdown. Source: TradingView For now, BNB's breakdown move appears to b...