Crypto Selloff Deepens as BNB Falls 2.7%, Technicals Take Center Stage

BNB Slides 2.7% as Market Weakness Persists and Traders Watch Key Levels

BNB fell 2.7% to $1,105 in the past 24 hours, extending losses as selling pressure swept across the broader crypto market. Traders largely focused on technical signals, with sentiment turning cautious after momentum from last week’s token burn faded.

The retreat followed BNB Chain’s record $1.6 billion quarterly burn, which removed 1.44 million BNB from circulation and reduced total supply to about 137.7 million tokens. While the deflationary move briefly lifted prices, it failed to offset the broader market drawdown.

According to CoinDesk Research, the CoinDesk 20 Index (CD20) dropped 1.8% during the same period. BNB’s decline accelerated once the $1,128 support level gave way, triggering heavy selling. Trading volume surged to 308,000 BNB in one hour, nearly triple the daily average, as prices briefly hit an intraday low of $1,076.

Rebound attempts met resistance near $1,110, with lower highs forming a short-term bearish pattern. Although the token is entering oversold territory, analysts say the $1,076 level remains crucial for near-term support.

A sustained breakout above $1,128 would be needed to restore bullish sentiment, but until then, momentum indicators continue to point lower.