BNB Price Teeters Below $850 Amidst Fading Momentum
Binance Coin (BNB) is currently navigating a challenging period, consolidating recent losses and struggling to maintain its footing below the crucial $850 price point. With the cryptocurrency facing significant resistance and technical indicators signaling caution, market participants are closely watching for definitive moves that could dictate BNB’s trajectory in the near term.
Price Dips and Critical Hurdles
After a brief surge that saw BNB challenge the $868 mark, the token encountered a sharp downside correction, falling below key support levels at $865 and $855. This retreat led to a test of the $842 level, establishing a temporary low. While there's a current attempt at a modest recovery, pushing above the 23.6% Fibonacci retracement of its recent downward move, BNB remains constrained. It trades consistently below the $850 level and the 100-hourly simple moving average. A short-term contracting triangle pattern is also evident on the hourly chart, with strong support noted around $845. Should BNB manage to break and hold above the $855 resistance — which aligns with the 61.8% Fib retracement level — it could ignite a fresh rally, potentially targeting $865, $880, and even the $888 mark.
The Threat of Further Decline
However, the path forward for BNB is fraught with risk. A failure to overcome the $855 resistance could trigger another wave of selling pressure. Initial downside support lies near $845, with a more significant buffer at $842. The primary psychological and technical support for BNB is situated at $835. A decisive breach below this level could open the door for a substantial drop towards the $820 support, and in a more bearish scenario, potentially extending losses towards the $800 level. Adding to these concerns, technical indicators paint a cautious picture: the Hourly MACD is observed to be losing pace within the bullish zone, and the Hourly Relative Strength Index (RSI) is currently positioned below the 50-level, suggesting a lack of strong buying momentum.
By Aayush Jindal | September 5, 2025
