BNB fell below the $700 psychological level during Thursday’s trading session, marking its third consecutive weekly decline. The Binance ecosystem token remains firmly under pressure as price action continues to trade well below two key trend-defining indicators — the 50-day EMA near $863 and the 200-day EMA around $875.
Adding to the bearish outlook, shorter-term moving averages have crossed below longer-term averages earlier this week, confirming the formation of a “death cross”. This technical pattern often signals a prolonged bearish phase and reinforces the prevailing downward trend for BNB in the near to medium term.
Momentum Indicators Point to Growing Selling Pressure
Momentum indicators show little sign of stabilization so far. The MACD line and signal line remain deeply below the zero level, while the negative histogram bars continue to expand, highlighting increasing downside momentum and persistent selling pressure.
At the same time, the Relative Strength Index (RSI) has dropped to 21, pushing deep into oversold territory. While such extreme readings can sometimes precede a technical rebound, they also reflect very cautious market sentiment, suggesting that bearish control remains dominant and that downside risks have not yet been fully exhausted.
Key Technical Levels to Watch
From a technical standpoint, the nearest and most important support lies at the 78.6% Fibonacci retracement level around $620. This level is measured from the February 2025 low near $500 to the October 2025 peak at $1,375. A decisive breakdown below this zone would significantly increase the probability of a deeper corrective phase.
On the upside, any relief rally is likely to face immediate resistance. A firm daily close above the 61.8% Fibonacci level at $735 would be needed to temporarily ease selling pressure and open the door for a short-term recovery attempt. Without such confirmation, upside moves may remain limited and vulnerable to renewed selling.
Market Outlook
Overall, BNB continues to trade in a technically fragile environment, dominated by bearish trend signals, weakening momentum, and cautious investor sentiment. Until price reclaims key resistance levels, downside risks are likely to remain elevated.
This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research before making any financial decisions. The author assumes no responsibility for investment outcomes.
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