Key Insights
- •BNB falls below a key trendline and the 9 Exponential Moving Average (EMA), shifting the short-term market bias to bearish.
- •Analysts are watching the $860–$850 zone as the next potential support level if BNB fails to reclaim the lost trendline.
- •A recovery above the trendline could push BNB toward $1,020, but significant trading volume will be required to sustain this momentum.
BNB has recently dropped below a critical support trendline on the 4-hour chart, raising concerns among short-term traders. The current price of BNB is trading at $895.23, reflecting a 2.49% increase over the past 24 hours. The 24-hour trading volume for BNB stands at over $1.4 billion, indicating continued interest from traders.
Breakdown of Key Support Indicates Weaker Momentum
BNB’s recent move below its trendline support on the 4-hour timeframe has attracted significant attention. This level had provided consistent defense for bullish traders over several sessions. According to Alpha Crypto Signal, “$BNB just lost its trendline support on the 4H, and that’s the key structure the bulls were defending for days.”
This price action has also pushed BNB below the 9 EMA, a moving average that typically guides short-term trend direction. With the price now trading under both the trendline and the moving average, the market may experience increased downward pressure. If BNB does not reclaim the lost support level soon, traders may interpret this as a shift towards a bearish market phase.
Downside Targets Set at $860 to $850 Zone
Market analysts have identified a potential downside target zone between $860 and $850 if BNB remains below the trendline. This price range is being closely monitored as the next likely support area should recovery efforts falter.
Traders are utilizing this zone for strategic entry or exit planning, depending on the price's reaction. A rebound from this area could offer temporary relief, while a decisive break below it might drive the price further down in the immediate term.
Despite the recent price weakness, some traders still perceive the potential for an upward movement if BNB can swiftly regain the trendline and approach the $1,000 mark.
Potential Upside Still in Sight if Momentum Shifts
Furthermore, Ruslan Khairullin highlighted that a recent BNB scalp “gave a clean bag,” although the anticipated breakout setup did not fully materialize. He also expressed his continued expectation for BNB to surpass $1,000 in the near term.
To achieve levels approaching $1,020, BNB must successfully close multiple candles above the breached diagonal trendline. A robust recovery above this trendline could effectively restore bullish confidence and reignite upward momentum.
Crypto analyst Ruslan Khairullin noted, “I marked the ideal price path on the chart, still expecting BNB to push a bit over $1000.” The $1,020 level remains a potential target, but its realization is contingent upon the price reclaiming lost levels. Sustained volume and positive momentum are essential for this scenario to unfold. Until then, many market participants are observing how the price reacts around the broken trendline.