Changpeng Zhao, CEO of Binance, minimized user complaints by claiming that BNB and the exchange were being affected by external influences that were causing fear, confusion, and doubt.
Since the weekend, customer withdrawals on Binance, the biggest exchange in the world, have increased significantly.
Rumors about possible money laundering, drug trafficking conspiracies, and insolvency have led to significant withdrawals from the exchange. According to a recent Forbes article, Binance is presently the subject of a money laundering investigation and has assisted the investigation by working with law enforcement. The recent FUD surrounding Binance indicates that market fundamentals also point to a downward trend in prices.
Key Binance coin levels to watch – December 27
Due to the break in the structure that occurred on December 17th, the market’s price movement bias signaled a negative turn. Price action at the moment suggests that a slight pullback phase is underway. A bullish retracement is set to take place, as indicated by the price being in an oversold area on the Relative Strength Index.
Before a price crash is forecasted, the present downturn is predicted to hit the Order-block. Moreover, the Bull price is anticipated to halt near the $300.0 barrier level.
Binance coin key levels
Resistance levels: $300.0,$320.0,$356.0
Support levels: $240.0,$220.0,$200.0
Total Market Capitalization: $850.33B
Binance Coin Market Capitalization: $39.31B
Binance Coin Volume: $0.38B
Market rank: 5
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