BNB Falls Toward $850 Support — Weekly Close Could Signal Further Drop
Binance Coin (BNB) fell 3.88% over the past 24 hours and is trading around $860.56. Price broke local hourly support at $893.20, opening the path to a near-term test of the $850 zone. On a longer timeframe, the key support sits at $864.64; a break below that could accelerate a move into the $830–$850 range. If the weekly candlestick closes at or below current levels, the report warns BNB may test $800–$820 next month. The analysis emphasizes bearish momentum in the midterm while noting BNB remains away from major structural levels. Primary keywords: Binance Coin, BNB price, BNB support, crypto price analysis.
Bearish
The report highlights clear technical weakness: a 24-hour drop, an hourly break below $893.20, and a nearer-term target at $850. The longer-term support at $864.64 is a critical pivot — its breach would likely trigger further selling toward $830–$850 and potentially $800–$820 if the weekly close is bearish. This pattern (loss of local support, followed by tests of lower support bands) has historically led to accelerated downside as stop-losses and short-term liquidation events cascade. For traders, the immediate implication is elevated downside risk and lower probability of sustained longs until price reclaims key supports or shows reversal signals (bullish divergence, reclaiming $893–$900). Short-term traders might consider tightening stops, reducing long exposure, or favoring short/hedge strategies. Medium-to-long-term holders should monitor weekly closes and volume confirmation before assuming trend reversal. The assessment assumes no major fundamental catalyst altering sentiment.