Binance Coin (BNB) has maintained an upward market structure since the beginning of 2024; however, recent movements indicate a possible deeper correction before significant growth. Currently, the coin is trading near the midpoint of the long-term price channel that began in February 2024. Given that several key technical indicators converge around $400, a retest of this zone looks likely before moving toward higher targets, including the area of $800.

1. Trading volumes: If volumes start to rise as the price approaches the $400 level, it may confirm buyer interest and the likelihood of a rebound from support.

2. Psychological level: The $400 level is also an important psychological mark where both buyers and sellers often become active.

3. Fundamental factors: It is worth considering news surrounding the Binance ecosystem, such as the launch of new products, updates on the BNB Chain network, or regulatory events — these can increase volatility and accelerate.