BNB Coin fell more than 3% in the last 24 hours, falling to $850, undermining key support zones and erasing the previous session’s gains.
The move comes despite a brief technical breakout attempt near $888 and signs of accumulation during overnight trading hours, according to CoinDesk Research’s technical analysis data model.
BNB spent most of the day consolidating between $885 and $888, building a tight range pattern supported by rising lows and increased volume early in the session. A break above the technical pivot of $888 indicated potential bullish momentum.
But that momentum was not sustained as trading activity slowed and broader market pressure returned. As the broader crypto market fell, with bitcoin and ether posting 24-hour losses of 2.8% and 3.6%, respectively, BNB also fell.
The drop appeared more technical than linked to BNB-specific negative news.
The drop has seen the overall cryptocurrency market approach a capitalization of $3 trillion, while 24-hour trading volume saw a significant increase to $115.7 billion, according to data from CoinGecko.
Disclaimer: Portions of this article were generated with the help of artificial intelligence tools and were reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI Policy.
