BNB Pulls Back 4.3% After Record High as Key Support Levels Come Into Play
Traders Watch $744–$753 Zone Amid Rising Volume and Bearish Signals
BNB is facing renewed downside pressure, falling 4.3% in the last 24 hours to trade near $764. The decline follows a strong rally that pushed the token to an all-time high of $804 on July 23, but profit-taking and broader altcoin volatility have since triggered a swift correction.
The selloff brought BNB down to a session low of $744.56 before a modest recovery to $759.35. Despite the bounce, price action continues to show a pattern of lower highs, suggesting the short-term downtrend remains intact. CoinDesk Research’s technical model flags the ongoing slide as a signal of persistent selling momentum.
Critical Support Test Ahead
Traders are now closely watching the $744–$753 support zone—a key level that may determine BNB’s next move. A breakdown below this area could lead to a deeper retracement, while a hold might attract renewed buying interest.
BNB’s losses have outpaced the broader market, with the CoinDesk 20 Index down 3.6% over the same 24-hour period. The underperformance points to specific selling pressure within the BNB market, even as sentiment across altcoins remains mixed.
Institutional Activity Still a Tailwind
The recent decline comes despite strong institutional interest. Nasdaq-listed Nano Labs recently acquired $90 million worth of BNB, while other firms—including Build & Build Corp. and WindTree—have been adding to their positions. This suggests longer-term confidence remains intact, even as short-term volatility plays out.
Binance founder and former CEO Changpeng Zhao acknowledged the recent price swings on social media, expressing appreciation for continued support across the BNB Chain ecosystem.
Profit-Taking and Rotation Drive Short-Term Weakness
Analysts suggest that BNB’s correction is largely driven by profit-taking and capital rotation amid increased activity in the altcoin space and ongoing BNB Chain upgrades. Elevated trading volume during the pullback further supports the idea that active repositioning is underway.
Looking Ahead
With BNB now hovering near a key support range, the coming sessions will be critical. A decisive hold above $744 could provide a base for recovery. However, failure to hold this level may lead to extended downside as traders reassess risk across high-flying tokens.
For now, BNB remains in a consolidation phase, with traders watching for technical confirmation of either a rebound—or the next leg lower.
