BNB Is 60% Below Its All-Time High and a Bearish Flag Is Forming on the Chart

Binance Coin (BNB) is trading at $603 at the time of writing, down nearly 60% from its all-time high reached approximately four months ago, with technical analysis flagging a bearish flag pattern forming on the chart and a critical support level at $570 standing between current price and a potential breakdown target of $445 to $450. What the Chart Shows The two-hour chart covering February 14th through February 28th captures a market that has been through significant stress and has not fully recovered from it. BNB peaked near $638 in the visible range around February 15th before beginning a sustained decline. The sharpest leg lower came around February 22nd to 23rd, when price broke aggressively through the $600 area and dropped to approximately $586 on elevated volume, the heaviest sell volume visible across the entire chart window source: https://www.ethnews.com/bnb-is-60-below-its-all-time-high-and-a-bearish-flag-is-forming-on-the-chart/