Traders bet against BNB: Is a price reversal likely now?

Most traders are betting against Binance, leading to a bearish sentiment and potential downward price pressure.

BNB set to revert recent price declines, based on technical analysis.remains one of the top cryptocurrencies, with its parent company, Binance exchange, dominating the crypto market.

With the decline in long positions, investors appear to be anticipating further downward movement for BNB.However, despite this sentiment, the BNB/USDT pair chart indicates a more positive outlook. The current consolidation within this triangle presents an opportunity for a breakout to the upside, although traders are advised to proceed with caution, as the price nears its all-time highs.The contrast between the bullish chart and the bearish cumulative long-short delta highlights a mixed sentiment, but BNB’s price may still move higher.As altcoins begin to rise on the daily charts, BNB is well-positioned to benefit from this upward trend.

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