BNB Drops Below $950 as Market Sell-Off Deepens, Privacy Coins See Surge
BNB fell below $940 amid a broader market sell-off, while privacy coins like DASH and Zcash surged significantly.Summary
BNB declined by 7.8% in 24 hours, breaching $940 support levels following failed attempts to break resistance at $1,020, which analysts suggest was driven by large holders selling off positions. This drop occurred during a wider cryptocurrency market downturn that pushed the CoinDesk 20 (CD20) index down by as much as 5%, leading to $1.4 billion in liquidations across the market, mostly long positions. In contrast to the general trend, privacy coins like DASH and Zcash saw significant gains, with DASH surging 56% and ZEC adding 5%, as traders rotated into less trackable assets. BNB is now facing technical resistance at $1,000 and $980, with analysts closely monitoring if it can maintain the $940 level to prevent further near-term losses.
(Source：CoinDesk)