BNB, the native token of the BNB Chain, is trading in a narrow range as buyers defend $864–$867, while sellers cap gains near $868.50. The token has fallen 3% over the past 24 hours to $865, following the Federal Reserve’s rate cut on Wednesday.
The decline mirrors the broader crypto market, with the CoinDesk 20 (CD20) index down 3.4% in the same period. BNB initially climbed to $908.83 before reversing sharply. Selling intensified after the token broke through $870, a key support level in recent weeks, with high trading volume confirming the bearish momentum, according to CoinDesk Research’s technical analysis.
Technical indicators point to further downside risk. BNB slipped below its 30-day moving average and the 23.6% Fibonacci retracement level at $874, suggesting the short-term uptrend may be weakening. While support has held near $861.95, attempts to reclaim $870 have repeatedly failed.
Traders remain cautious ahead of the network’s upcoming upgrade. A sustained move above $874 could restore upward momentum, while a deeper slide may push BNB toward the next support near $839, according to Fibonacci levels.
