$BNB

Recently, Binance coin showed impressive performance on the crypto market and outstood the Tether stablecoin from its third place.

Why is BNB’s price down today?

BNB’s 0.88% 24-hour decline reflects profit-taking after a 90-day 22.66% rally, combined with sector rotation and short-term technical overextension.

Profit-taking after 11.13% weekly gains

Sector rotation toward altcoins like Solana

Temporary caution ahead of BNB Chain wallet maintenance

Technical Context:

BNB shows signs of short-term exhaustion:

- RSI14 at 84.36 (overbought territory)

- MACD histogram at +8.27, slowing bullish momentum

- Price rejected near $780 Fibonacci extension level.

3. Catalysts

Upcoming wallet maintenance (July 23) for BNB Smart Chain withdrawals (Binance)

DEX competition: PancakeSwap’s dominance (44% of DEX volume) faces pressure from Solana-based platforms.

Conclusion:

BNB’s dip appears corrective rather than structural, with key support at $738.9 (23.6% Fibonacci level).