crypto.news
$BNB price is under pressure as a wave of uncertainty sweeps through the crypto market, pulling major tokens toward their monthly lows.
- $BNB has fallen below the crucial $1,000 mark, dropping 8.6% in 24 hours and 12.5% over the week as overall market sentiment weakens.
- The token has slipped under its 25-day and 50-day moving averages, leaving the 100-day moving average near $940 as the next key support level.
- While a rebound could occur if buyers defend current levels, continued market pressure may push its price below $900 in the coming days.
$BNB is hovering near $950 today, marking a decline of 8.6% over the past 24 hours and a steep 12.5% drop on the week, per market data from crypto.news. The BSC native token briefly touched $947 as its daily low, while the high for the session reached $1,002, underscoring volatile conditions.
The slide in $BNB ($BNB) below the $1,000 mark follows a stretch of sideways movement seen since mid-October. The token had maintained support above $1,050, despite multiple attempts by sellers to push it lower. This level had acted as a key floor throughout the past weeks, but increased selling pressure has eventually broken through it.
$BNB price with support and resistance levels.">
The recent breakdown coincides with widespread weakness across the sector, with Bitcoin (BTC) slipping under $105,000 and Ethereum (ETH) to $3,500. Other major altcoins are not spared, Solana (SOL) is now trading around $158 and $XRP ($XRP) under $2.30, with all of these are approaching the lows seen during the steep market correction on October 10.
$BNB now faces a critical test to reclaim the $1,000 threshold. Given its ability to hold steady above major support through previous waves of selling, it may respond with the same strength seen earlier in the cycle.
$BNB price seeks support at $940
Despite the recent downturn, $BNB continues to show relative strength compared to its peers. Since July, the token consistently used its 25-day moving average as support, with all major moving averages stacked in bullish order, signaling a strong underlying trend.
In mid-October, the Binance coin lost its 25-day average as support but found stability at its 50-day moving average. This shift reflected some loss of momentum, yet the coin still maintained a stronger technical structure than much of the market.
With the latest downturn, $BNB price has now dipped below both the 25-day and 50-day averages, putting the focus on the 100-day moving average as the next key support near $940. If buyers step in at this level, a rebound could materialize, but the support may not hold if the overall market remains under pressure.
Should sentiment stay negative and the selling continue, the token risks sliding below $900 in the near term.