Binance Coin falls to $895 as technical indicators turn weak

Price action has consistently struggled to reclaim a key resistance zone, which was once a significant support level, according to chart data. The late-session drop reportedly pushed Binance Coin to its lowest point since early November.

Technical indicators, including the Relative Strength Index (RSI), showed weakening bullish momentum, although it hasnt yet entered oversold territory. Throughout the week, the RSI failed to break above mid-range levels, signaling that buyers have been unable to regain control.

The most recent dip in the RSI indicated a brief capitulation before a minor rebound.

More bad news for Binance

Binance has been linked to the flow of at least $28 billion tied to illicit activity in the cryptocurrency space over the past two years, as revealed by an investigation from the International Consortium of Investigative Journalists and other global media outlets.

This “dirty money,” according to the New York Times, is from hackers, thieves, and scammers. Its funneled into, not just Binance, but other prominent exchanges like OKX.

The report highlights how criminal organizations, including North Korean cybercriminals, have used crypto exchanges to launder funds. Despite this, Binance, the worlds largest exchange, continues to grow.

In May, Binance inked a $2 billion deal with an Emirati fund using digital currency from the Trump familys World Liberty Financial firm. Around that time, Zhao (known in the industry as CZ) applied for a pardon.