BNB Price Dips to $840, Eyes $800 Support as Bearish Pattern Forms
BNB price fell 2% to $840, retreating from a $900 all-time high. The BNB price now risks testing the key $800–$820 support zone after a bearish ABCD pattern emerged on the daily chart. While the token remains above its 50-day moving average (~$783), it sits below the 9-day average (~$853), and trading volume has slowed, suggesting measured profit-taking. On the derivatives side, BNB futures open interest dropped 1% to $1.48 billion and trading volume fell 9% to $1.88 billion, indicating reduced leverage. Meanwhile, B Strategy, backed by YZi Labs, plans a $1 billion BNB treasury to fund new projects and tighten governance following an oversubscribed $500 million round. The fund aims to bolster network growth and prevent governance lapses.
Bearish
The emergence of a bearish ABCD pattern coupled with a 2% pullback from the $900 peak signals a likely short-term downside test of the $800–$820 support zone. Slowing spot volume and a 1% drop in futures open interest reflect cautious positioning by traders post-peak. Historically, BNB has witnessed deeper corrections after failing key support levels, prompting stop-loss triggers and margin liquidations. In the long term, the planned $1 billion treasury could stabilize sentiment by funding ecosystem projects and enhancing governance. However, until the $800 threshold holds, market momentum remains tilted toward further downside risk.