BNB Struggles to Hold Key Levels as Bearish Chart Patterns Emerge
BNB is attempting to steady itself around the $950 area, but technical indicators suggest the token may be vulnerable to further losses, with analysts highlighting a developing head-and-shoulders pattern on the charts.
The native asset of the BNB Chain, BNB ($913.34), slipped under $960 over the past 24 hours after failing to break through resistance just above $970. The token briefly reached $970.03 before reversing sharply, a move accompanied by a spike in trading volume that signals large sell orders likely triggered a wave of liquidations, according to CoinDesk Research’s technical analysis model. BNB dropped to an intraday low of $942.06 before attempting a modest recovery.
The reversal has left BNB trapped in a narrow trading range, with buyers trying to maintain stability in the $950–$960 band. The token continues to hover near the bottom of its intraday range, highlighting a cautious stance across the market.
“BNB’s move below $970 isn’t simply volatility—it reflects a meaningful shift in order-flow dynamics,” said Alex Borutski, co-founder of the BNB-focused project iMe AI Messenger and Wallet. “With liquidity pools sitting under $950, the downside still offers less resistance.”
BNB now finds itself squeezed between a prominent resistance zone near $970 and short-term support around $942. Borutski pointed to the emergence of a head-and-shoulders formation on lower timeframes—a classic bearish signal often seen as a precursor to further downside momentum.
Several independent market analysts echoed the same observations on social platforms, calling attention to mounting short-term bearish pressure.
BNB’s next decisive move will likely hinge on whether it can reclaim levels above $970 or instead break below current support, opening the door to a potential slide toward the $900 region. For now, BNB’s price action remains aligned with the broader crypto market’s pullback, with the CoinDesk 20 (CD20) index down 1.6% during the same period.
