Binance Coin (BNB) faces renewed selling pressure after failing to hold above $1,150, with traders watching crucial support levels around $1,000.
Binance Coin (BNB) has fallen back toward the $1,000 mark after a sharp pullback from its recent highs, as technical indicators signal growing uncertainty across the broader crypto market. The retracement comes just weeks after BNB tested its all-time high (ATH) resistance near $1,372, sparking renewed debate about whether the token can sustain its long-term bullish momentum.
The daily chart reveals a clear break below the ascending trendline that had supported BNB’s rally since mid-summer. Price action has now moved into a critical demand zone highlighted between $1,000 and $1,050, a region that previously served as a consolidation base before the October breakout.
Trading volume has notably increased as BNB tested this zone, suggesting strong buyer activity attempting to absorb selling pressure. However, short-term momentum remains fragile as the token struggles to reclaim its $1,100 resistance.
“BNB is at a technical crossroads,” According to BITX market analysts. “The $1,000 area is vital for maintaining bullish structure. A sustained close below could invite further downside toward $900, while a rebound could re-establish upward momentum toward $1,200.”
The chart also highlights multiple liquidity zones — with the upper band near $1,150 acting as immediate resistance and a deeper support cluster near $880–$920, shown in orange, serving as the next safety net if the current level fails.
Despite the short-term weakness, BNB’s long-term trend remains positive, supported by consistent trading volumes and strong on-chain activity. The recent correction is being viewed by some traders as a healthy retracement after an extended rally, rather than a structural breakdown.
“We’re seeing a textbook retest of previous breakout levels,” said one of BITX technical strategist. “If buyers can defend $1,000, BNB could stage a recovery and challenge $1,200 in the coming weeks.”
BNB’s retreat to the $1,000 support zone marks a pivotal moment for the asset’s mid-term outlook. While technicals indicate oversold conditions, the market’s next move will depend on whether bulls can maintain control of this range. A bounce from current levels could reaffirm the bullish trend, but a close below $1,000 might open the door to a deeper correction before any new upward leg begins.
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.