BNB

The latest developments in the SEC's case against Binance Holdings and associated entities unveil a collaborative approach to legal proceedings, marking a significant step in this high-profile case.

According to BNB's short-term technical analysis, the price is trading close to the $220 resistance level. If 4-hour closures above $220 occur, there may be an increase up to $225. However, closures below the $220 support can trigger a decline, in which case the $216 and $214 support levels become important.

Investors in the cryptocurrency market need to be aware of which digital currencies are worth their time and money. Understanding which cryptocurrencies to avoid is also an art that can prevent investors from losing money in this vast field. This article provides a brief list of cryptocurrencies that traders and investors should be cautious about in the coming week due to high uncertainty.

Binance, the leading cryptocurrency exchange by volume, is facing regulatory challenges due to allegations of aiding in the evasion of sanctions. This comes as Russian citizens increasingly turn to crypto amidst war, and Binance discontinues its P2P services to sanctioned Russian banks.

As long as BNB stays above $214 on the hourly chart, there is a possibility of a rise to $220. However, closing below $214 could extend the decline to $207. If strong buying comes from the $207 support zone, the target could reach $225.

In the last 24 hours, Bitcoin, the leading cryptocurrency, has seen a 2% drop. This is part of a larger 10% decline in recent days. Altcoins, especially Binance Coin (BNB), have also experienced significant drops, causing panic due to regulatory pressures and falling prices. Altcoin Sherpa, a renowned altcoin analyst, has suggested that BNB is currently in a re-test phase, which could indicate a worrying trend.

Binance, a leading cryptocurrency exchange, is set to suspend its crypto bank card services in Latin America and the Middle East from August 25. These services enabled users to make daily payments using their crypto assets. However, the exchange has assured users that all refunds and disputes will be resolved by December 20, 2023.

The unanswered criticisms towards Binance exchange and CEO CZ have raised concerns for BNB coin, causing the weighted sentiment to hit an all-time low.