The BNB (Binance Coin) enters a correction phase after failing to maintain its rise above 860 dollars. While buying pressure remains at key support levels, selling pressure is gradually increasing, placing BNB in front of several obstacles on its path to recovery.
📉 Recent price movements
After a strong rise and testing the resistance level of 860 dollars, BNB failed to break it and began a downward correction. The price broke through important support levels at 850 dollars, 840 dollars, and recently 820 dollars.
Currently, BNB is trading below the 810 dollar area and below the 100-hour simple moving average, indicating short-term weakness.
📊 Notable technical support
800 dollars: This is the closest support level, and it is also where an important upward trend line is forming on the hourly chart for the BNB/USD pair. Buying strength is active around this price area.
788 dollars: A key support level in case of breaking 800 dollars. This is the area that determines BNB's ability to continue recovering.
770 dollars and 750 dollars: If BNB continues to weaken below 788 dollars, these two areas will act as a final stop before the market can decline further towards the 735 dollar area.
📈 Short-term resistance
810: The first resistance level that BNB must overcome to regain upward momentum.
820 dollars: An important resistance level. If successfully broken, the price may head towards 845 dollars.
845 dollars and 860 dollars: A breakout above 845 dollars may help the BNB price regain its upward trend, opening the way for a retest of the high at 860 dollars. If the breakout continues, 880 dollars will be the next target.
📉 Potential negative scenarios
If the BNB price does not exceed the 820 dollar level in the near term, selling pressure may lead to a price decline. Breaking the 800 dollar support level will push the price into the 788 dollar area. If it loses 788 dollars, the bearish trend may continue to 770 dollars, or even deeper to reach 735 dollars.
🔧 Technical indicators
MACD (time frame): Accelerating in the negative territory, indicating that the bearish trend is still dominant.
Relative Strength Index (RSI): Currently below 50, indicating hesitation on the part of buyers.
📌Conclusion
BNB is undergoing a correction after a strong rise. Support areas such as 800 dollars and 788 dollars will serve as important "battle lines" that will determine the next direction. If they hold, the price may recover; conversely, breaking them will open the door to a deeper decline scenario.
👉 Investors should closely monitor price movements around the range between 800 dollars and 788 dollars and prepare risk management plans.
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