📉 Lorenzo Protocol (BANK) Plummets: Extreme Fear and Technical Weakness Mark Its Post-Binance Decline 🚨
The BANK token of Lorenzo Protocol is under intense selling pressure, registering a decline of 1.1% in the last 24 hours and a concerning decrease of 51% in the last month. This marked downward trend is amplified by an "Extreme Fear" environment dominating the crypto market, with the Fear and Greed index at 29 points. The initial euphoria that followed its listing on Binance, where it experienced a 60% increase, has completely dissipated, leading BANK to a plunge of 71% from its pre-listing high of 0.13. From a technical perspective, the asset trades well below its key moving averages, sitting 54% below its 30-day SMA (0.0488), while the RSI-7 at 25.6 indicates oversold conditions, although persistent selling pressure prevents any significant recovery. Key resistance is found at 0.0626 and a sustained break below the psychological support of 0.04 could trigger a drop towards the 2025 low at 0.0048.
🔍 Implications:
Lorenzo Protocol (BANK): Heightened weakness, under extreme selling pressure.
The overall market sentiment for BANK is markedly pessimistic, with investors actively rotating capital out of altcoins amid global risk aversion and profit-taking post-listing. The token's ability to stabilize will depend on renewed adoption in BTCFi or direct support actions from the exchange.
