BNB fell nearly 3% in the past 24 hours to around $844 as Bitcoin’s sharp reversal and renewed weakness in U.S. tech stocks rippled through the cryptocurrency market.
The coin had risen to $872 minutes ago but was unable to hold on to gains before selling pressure accelerated, according to CoinDesk Research’s technical analysis data model.
The move marks a shift from recent consolidation. After defending the $855 to $857 area for several sessions, BNB fell below this support during the US trading session. The price briefly rebounded to $860, but sellers soon regained control, pushing the coin to intraday lows near $843.
The decline came amid wild swings for Bitcoin, which briefly surged above $90,000 before falling back below $86,600. Falling shares in artificial intelligence-related stocks such as Nvidia and Broadcom dragged the Nasdaq lower, reinforcing risk aversion in risk assets.
BNB’s trading volume surged during the crash, with several large spikes occurring as the price fell below support levels. This pattern suggests a forced sell-off or stop-loss trigger, rather than the orderly pullback seen earlier in the week.
Looking at the short-term chart, BNB’s structure deteriorated, with a fall below $855 ending its previous consolidation range. This level now acts as near-term resistance.
Staying above $840 is crucial to avoid further moves towards $830. A recovery above $855 is needed to stabilize the trend and reopen the path to $870.
BNB’s slide reflects the overall tone of the cryptocurrency market, with shrinking liquidity exacerbating price volatility. For traders, the latest moves highlight how quickly things can change when macro pressures collide with thin year-end trading.
Disclaimer: Portions of this article were generated with the help of artificial intelligence tools and reviewed by our editorial team for accuracy and adherence to our standards. For more information, see CoinDesk’s full AI policy.
