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BNB Price Struggles Below $850 – Is Momentum Fading Fast?
BNB price is experiencing a consolidation phase, trading below the $850 zone after failing to break through $868. A downside correction has occurred, pushing the price below key levels like $865 and $855. BNB dipped below $850 and tested the $842 support level. Currently, it is attempting a fresh increase above the 23.6% Fibonacci retracement level. The price remains below $850 and the 100-hourly simple moving average. A short-term contracting triangle has formed with support at $845. Upside resistance is found near $850, followed by $855 and the 61.8% Fibonacci retracement. Clearing $855 could lead to a test of $865 and potentially $880. Failure to overcome $855 resistance might trigger another decline, with initial support at $845 and major support at $835. A break below $835 could lead to further losses towards $820 and $800.
