BNB Slips Below $865 Amid Widespread Crypto Weakness

BNB, the native token of the BNB Chain, is consolidating in a tight range as buyers defend $864–$867 and sellers cap gains near $868.50. Over the past 24 hours, the token has fallen 3% to $865 following the Federal Reserve’s rate cut on Wednesday.

The decline tracks the broader crypto market, with the CoinDesk 20 (CD20) index down 3.4% in the same period. BNB initially surged to $908.83 before reversing sharply. Selling pressure intensified after the token broke through $870, a key support level that had held in recent weeks, according to CoinDesk Research’s technical analysis model. The move was accompanied by strong trading volume, reinforcing the bearish trend.

Technical indicators add to the negative outlook. BNB slipped below its 30-day moving average and the 23.6% Fibonacci retracement level at $874, often signaling a potential end to a short-term uptrend. Attempts to recover toward $870 have met repeated resistance, while support has held around $861.95.

Traders are largely waiting on the sidelines, cautious ahead of the network’s scheduled upgrade. A sustained move above $874 could reignite bullish momentum, while further declines could push the token toward the next technical support at $839, based on Fibonacci levels.