BNB is facing intensified selling pressure amid broader cryptocurrency market volatility, despite its price bouncing off the critical support level of $615. Traders are now weighing bearish technical signals against potential bullish rebounds, with broader market optimism and Binance ecosystem developments key to the token’s near-term trajectory. BNB price holds $600 — for now. BNB’s price tested a daily low of $615 on Monday, with intraday losses of 3% from its session highs near $650.
Current levels are well below recent highs of $1,000. While buyers stepped in to prevent a dip to the $600 mark, the declines of 20% over the past week aligned with a breach below a declining channel. If the ensuing weakness continues to limit upside momentum, BNB will be at risk of additional downside. However, if sellers show exhaustion amid positive news around Binance and the crypto market, a decisive close above $650 could allow for retests above $700.
BNB price forecast: $530 next? Analysts see a confirmed break below the $600 mark as a trigger that could propel BNB toward the $530-$550 level. On the daily chart, this marks part of a broader accumulation zone that encompasses the $500-$700 range. Prices in the potential dip zone offer a historically resilient support band that has previously drawn buyers. This means that a likely breach here might allow bears to test year lows near $517.
Leave a Reply