• BNB/USD has been struggling to keep up with the rally of other major cryptocurrencies in 2023.
• Technical analysis suggests that BNB/USD is forming a bearish flag pattern, pointing to a break of the $200 support level.
• The inability of the market to bounce points to other factors weighing on the market besides US dollar strength.

BNB/USD Struggles

BNB/USD has been struggling to keep up with the rally of other major cryptocurrencies in 2023, giving up all its gains and more. This is despite US dollar strength not being responsible for this bearishness.

Bearish Flag Pattern

Technical analysis suggests that BNB/USD is forming a bearish flag pattern, which would mean that it will break through the $200 support level. This measured move points to prices lower than $150.

Inability To Bounce

The market’s inability to bounce while other cryptocurrencies hold near their yearly highs indicates that there are other factors at play suppressing its price besides US dollar strength.

Conclusion

Overall, technical analysis suggests that BNB/USD is vulnerable and may drop below $200 if it continues forming a bearish flag pattern as suggested by current trends. Additionally, its inability to bounce while other coins hold onto their gains point towards further weakness for Binance Coin in comparison with other cryptos.