BNB Technical Outlook Suggests Potential Consolidation Before Next Move
Binance Coin (BNB) has seen a notable pullback of around 11% from its recent all-time high (ATH) of $1,371, currently trading near $1,185. Despite the decline, technical charts indicate a healthy correction phase within a broader bullish structure, as traders eye multiple support zones for potential rebounds.
BNB had been on a strong upward trend since mid-June, breaking past key resistance levels and establishing a sharp ascending channel. However, the recent rejection near its ATH triggered short-term profit-taking, leading to the current correction.
According to the chart, BNB’s first demand zone lies between $1,150 and $1,200, where buyers appear to be defending aggressively. The next strong support sits around $1,050, aligned with a previous breakout zone, followed by a major base near $880–$920, which served as a consolidation region during September’s rally.
Experts See a Healthy Market Structure
Technical analyst Ravi Deshmukh noted that such retracements are “a natural part of strong uptrends.”
“BNB’s 10–12% drop doesn’t signal weakness. It’s a standard cooling phase after an aggressive rally. The price is still trading above the 50-day exponential moving average (EMA), maintaining its bullish bias,” he said.
According to BITX emphasized that volume trends remain supportive, suggesting that selling pressure might be temporary.
“The strong volume spikes during the upward move and lighter sell-off volumes indicate continued institutional interest,” she explained.
Key Levels to Watch
- Immediate resistance: $1,250 – $1,300
- Primary support: $1,150 – $1,050
- Major support: $880 – $920
If BNB sustains above the $1,150 level, analysts expect another retest of the $1,300–$1,370 zone in the coming weeks. A break below $1,050, however, could open the way toward deeper retracement levels.
Despite the short-term correction, the overall sentiment remains constructive, with traders seeing this as a healthy consolidation before a potential continuation of the long-term uptrend.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.