This, on the back of the ongoing wave of daily liquidations in the general cryptocurrency market. These have become even more pronounced since 19 August. At the time of writing, BNB was exchanging hands at $290.74, hiking by a meagre 1% in the last 21 days.A look at the daily chart pointed to a gloomy next few weeks for the 5th largest cryptocurrency. As per data from, the intersection of the MACD line with the trend line in a downward curve on 14 August indicated the start of a new bear cycle.
As of this writing, BNB’s Relative Strength Index stood at 46. Its Money Flow Index, closer to the oversold terrain, was spotted at 37. Its Chaikin Money Flow which has since taken on a downtrend since the month started, posted a value of -0.14. The positions marked by these key indicators revealed that the general bearishness of the market had impacted BNB as more investors have taken to coin distribution to recoup profit.