Binance Coin Faces Crucial Technical Zone After Sharp Correction
Binance Coin (BNB) is testing a major support zone near $900 after a steep pullback from recent highs above $1,300, raising concerns about whether the current correction could deepen further. Technical charts show that the asset has fallen out of a short-term consolidation range, placing it at a pivotal moment for traders and long-term investors.
BNB Approaches Long-Term Support Trendline
Following a strong rally throughout the third quarter, BNB’s price reversed sharply, breaking below the $1,050–$1,000 support band. The latest move has brought the coin down to $953, hovering just above a critical demand zone between $880 and $920, which has historically acted as a springboard for bullish recoveries.
According to BitXJournal market analysts, this area could determine whether the broader uptrend remains intact.
“BNB’s current structure shows it testing a major technical confluence at $900. A rebound from this level could confirm continuation toward $1,100, but a close below $880 risks opening the path to $800 or lower,” one trader observed.
The volume profile also indicates heightened activity around current prices, suggesting that both buyers and sellers are aggressively defending their positions. This often precedes sharp directional moves once one side gains dominance.
If BNB manages to hold above the $900 mark, analysts expect a potential rebound toward $1,050 and $1,150, where layered resistance awaits. However, failure to defend this support could shift sentiment further bearish, extending the decline toward the next accumulation zone near $820.
The broader crypto market’s weakness and profit-taking among traders have contributed to BNB’s current retracement. Despite the short-term pressure, the long-term trend remains technically intact as long as price maintains structure above the ascending trendline visible from May’s rally.
Traders are closely watching this key support level, as its reaction may define BNB’s direction for the remainder of the quarter.
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.