BNB Struggles to Hold $950 as Technical Weakness Deepens
BNB is consolidating after slipping below $960, with the token attempting to stabilize near $950 amid growing signs of a bearish technical setup.
The BNB Chain’s native asset
BNB ($913.34)
fell under pressure in the past 24 hours, giving back gains after failing to break through resistance slightly above $970. The token briefly touched $970.03 before selling activity surged, driving it down to an intraday low of $942.06 before a modest rebound.
CoinDesk Research’s technical analysis model shows a sharp spike in volume during the reversal, indicating that significant sell orders may have triggered a wave of liquidations. The shift in momentum has kept BNB trapped within a tight $950–$960 range, with buyers struggling to reassert control.
“The slip below $970 isn’t merely volatility—it reflects a change in order-flow dynamics,” said Alex Borutski, co-founder of iMe AI Messenger and Wallet, in a statement to CoinDesk. “With liquidity pools stacked below $950, the path of least resistance still points lower.”
BNB now sits between a firm resistance zone near $970 and short-term support around $942. Borutski noted the emergence of a head-and-shoulders pattern on lower timeframes, a structure often viewed as an early warning sign of further downside.
Several independent analysts echoed the sentiment on social platforms, pointing to similar bearish formations pressuring the token.
BNB’s next move may hinge on whether it can reclaim levels above $970 or weakens further toward the $900 support area. For now, its decline aligns with broader market softness, as the CoinDesk 20 (CD20) index dropped 1.6% over the same period.
About The Author
More Stories
Strategy Drops to Lowest Level in Over a Year, Maintaining a Premium Over BTC Assets
Three Critical Charts Highlighting Ether’s Growing Advantage Over Bitcoin
Retail Investors Turn Cautious as Market Slumps, Indicating Potential Near-Term Lows for Bitcoin, Ether, and XRP