BNB faces resistance around $1,000, risking a pullback to $750 amid selling pressure.
Trading volume surged 7% in 24 hours, signaling increased market activity.
Fear & Greed Index at 21 indicates extreme fear, elevating downside risks.
The cryptocurrency market is buzzing with speculation as Crypto Tony, a prominent analyst, recently shared an intriguing chart on X, forecasting a potential drop of Binance Coin (BNB) to $750. The chart highlights a historical price trend for BNB/USD, showing a significant upward trajectory followed by a possible correction. With the current price hovering around $946.7 (as per the chart’s latest data), the predicted $750 target has sparked mixed reactions among traders and investors.
Rising Volume amid Mixed Market Sentiment
The chart, spanning from mid-2025 to early 2026, features a notable resistance level around $1,000, where BNB has faced selling pressure in the past. Crypto Tony’s analysis suggests that if this resistance holds, a pullback to $750 could be imminent, aligning with broader market volatility. However, the crypto community remains divided. Some users argue that $750 is a realistic support level, while others predict a steeper decline or a potential rally if Bitcoin (BTC) maintains its strength.
Outlook and Key Levels to Watch
Volume and market sentiment will play crucial roles in this scenario. Recent data indicates a 7% increase in BNB trading volume over the last 24 hours, signaling heightened activity. Yet, the Fear & Greed Index at 21 reflects extreme fear, which could amplify downward pressure. Historically, BNB has shown resilience, driven by Binance’s ecosystem and strategic developments, but technical indicators like moving averages and resistance levels suggest caution.
The market awaits confirmation. Traders are advised to watch for breakouts or breakdowns around key levels, with $750 potentially acting as a psychological support. Whether this prediction holds will depend on macroeconomic factors, BTC performance, and Binance’s ongoing initiatives.