Since January 29, Binance Coin (BNB) has lost 14.63% in value. For comparison, Bitcoin (BTC) is down 12.29% over the same period. Still, BTC and BNB were both above key swing levels on the weekly time frame.
These levels, namely $74.5k for BTC and $500 for BNB, maintained a glimmer of hope for long-term holders. At the time of writing, BNB has been tested and rebounded from a support level dating back to August.
Source: BNB/USDT on TradingView
BNB did not complete its downtrend on the daily time frame. The bearish structure changed in recent days when the price fell below the December low of $818.39. Although the $730 support from early August was defended, momentum was firmly bearish.
Sales volume has pushed BNB’s OBV down, but the overall trend of the volume indicator has been upward over the past month. Meanwhile, the Awesome Oscillator fell below the neutral zero last weekend and continued its descent during the recent price decline.
As things stand, swing traders may maintain a bearish bias. The weekly calendar shows potential for recovery, but it could take time. Bitcoin’s momentum and broader market fear could spook BNB investors.
The way forward for BNB
The 10/10 crash was caused by “irresponsible marketing campaigns” by some companies, said OKX founder Star Xu. After that day, “the microstructure of the market fundamentally changed,” reads his article on X.
Since then, Bitcoin has not regained its positive correlation with traditional markets, AMBCrypto reported. Binance refuted these claims that it was the trigger for the massive deleveraging event that day, instead attributing the move to macroeconomic shocks.
Should traders sell or stay away?
Source: BNB/USDT on TradingView
The $780-$790 and $810-$840 areas were air supply areas to watch. In particular, the former $820 support zone, now resistance, could fend off a BNB rebound in the shorter term.
Traders and investors can expect a bearish outcome in such a retest. On the other hand, if $840 is reclaimed, they can reverse their biases bullishly. To the south, $730 and $687 are key support levels to watch.
Final Thoughts
- BNB price action was strongly bullish for much of 2025, but was stalled by a deep retracement.
- The current bearish sentiment could take weeks to dissipate, assuming a long-term BNB recovery is still feasible, which would depend on BTC holding $74,000.
Disclaimer: The information presented does not constitute financial, investment, business or other advice and represents the opinion of the author only.
