BNB Price Retreats from Resistance
BNB, the native token of the BNB Chain, dropped below $960 in recent trading after hitting resistance around $970. The token reached a high of $970.03 before reversing course, with the decline accompanied by a sharp increase in trading volume. This suggests larger sell orders may have triggered liquidations across the market.
The price eventually found a session low at $942.06 before recovering somewhat. Currently, BNB appears rangebound with buyers trying to establish stability in the $950–$960 zone. The token’s position near the lower end of its intraday range indicates traders remain cautious about committing to stronger positions.
Technical Analysis Points to Downside Risk
Alex Boruski, co-founder of BNB-linked project iMe AI, noted that the break below $970 reflects changing order-flow dynamics rather than just volatility. He pointed to liquidity pockets sitting below $950, suggesting the path of least resistance remains downward for now.
Technical patterns are adding to the bearish sentiment. Boruski highlighted the formation of a head-and-shoulders pattern on shorter timeframes, which traders often interpret as a signal for potential further declines. Other analysts on social media have observed similar patterns, reinforcing the short-term bearish pressure on the cryptocurrency.
Key Levels to Watch
BNB currently finds itself caught between clear resistance near $970 and short-term support around $942. The next significant move will likely depend on whether the token can reclaim ground above $970 or breaks lower toward support levels near $900.
This decline aligns with broader market weakness, as the CoinDesk 20 index fell 1.6% over the same period. The cryptocurrency market often moves in sync, with individual tokens responding to both their own technical setups and broader market sentiment.
For traders watching BNB, the $950–$960 zone appears to be the current battleground. A sustained break below this range could open the door to further declines, while holding above it might provide a foundation for recovery attempts. The increased volume during the reversal suggests this isn’t just minor profit-taking but potentially a more significant shift in market dynamics.
I think what’s interesting here is how quickly sentiment can change based on technical levels. One moment the token was testing resistance, and the next it was facing liquidation cascades. It shows how fragile these markets can be when large positions cluster around specific price points.
