BNB Drops Below $865 as Crypto Market Moves Lower
BNB fell over 2.7% to $865 following the Federal Reserve's rate cut, as the broader crypto market declined.Summary
The price of BNB, the native token of the BNB Chain, dropped more than 2.7% to $865 as traders reacted to the Federal Reserve's 25 basis point rate cut. While precious metals and equities rose, the cryptocurrency market moved lower, with the CoinDesk 20 (CD20) index losing 3.4%. BNB opened the session at $890, hit a high of $908.83, but reversed sharply, breaking through key support at $870, which was backed by increased trading volume. The token also fell below its 30-day moving average and the 23.6% Fibonacci retracement level at $874, signaling a bearish setup. Currently, BNB is trading in a tight range between $864–$867, with traders cautious ahead of a network upgrade pause. A recovery above $874 could shift momentum, but a deeper slide might lead to the next technical support level at $839.
(Source：CoinDesk)