bulls could not defend the breakout past the $635 resistance. The prices were back at the $570 support zone at press time. The technical indicators highlighted bearish expectations.
The first week of June saw Binance Coin post large gains, reaching the $717 mark and set its all-time high. From the Fibonacci levels, it was the 23.6% extension and a technical resistance zone. This saw prices decline. The daily RSI was at 40, signaling bearish momentum. The CMF was at -0.05 and showed strong capital outflow from the BNB markets in recent days. Together, they indicated further losses were likely.Coinalyze
The spot CVD saw a similar trend unfold. It attempted to recover from the 19th to the 22nd of June but faltered due to the lack of consistent demand.
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