BNB Price Analysis: Slips Below $1,000. Will It Breach $970 Support?
BNB fell below $1,000 amid high selling volume, indicating a bearish trend with support near $972.85.Summary
BNB Chain's native asset, BNB, dropped below the $1,000 mark, hitting a low of $974 and entering bearish territory, accompanied by an 88% surge in trading volume suggesting significant selling pressure. The token has been on a consistent downtrend after peaking near $1,300 earlier this year, with technical patterns like lower highs pointing to potential further downside. Immediate resistance is set between $1,000 and $1,008, while crucial support lies around $972.85, with a psychological floor at $970; a break below this could target $959. Despite the short-term price action, an analyst from an AIC-linked project emphasized that BNB's long-term foundation rests on infrastructure and utility from new token launchpads, rather than immediate market sentiment. This decline occurred during a broader crypto market downturn, evidenced by the CoinDesk 20 (CD20) index losing 2.16%.
(Source：CoinDesk)