Binance Coin (BNB) dipped below a crucial technical level following the Federal Reserve’s rate cut, with traders evaluating whether bulls can defend the $1,050–$1,100 zone.
Binance Coin (BNB) slipped sharply after the latest Federal Reserve policy update, breaking beneath a previously defended support zone as macro-driven volatility swept across digital assets. The move followed a 25-basis-point rate cut and cautious remarks from Fed Chair Jerome Powell, triggering widespread risk-asset pullbacks and over $1.1 billion in liquidation events across the crypto market in the past 24 hours.
BNB Technical Analysis and Market Reaction
BNB fell toward $1,077, sliding below a key short-term support band after multiple attempts to stabilize. The price now trades within a critical demand region near $1,050–$1,100, highlighted as a zone where buyers previously stepped in aggressively. A sustained hold above this range remains crucial to prevent deeper downside toward the next major support around $900–$950, represented on the chart by the large orange accumulation area.
The chart also reflects that BNB recently pulled back from its all-time high near $1,372, failing to secure continuation after a parabolic advance through Q3. The loss of near-term structure marks the first notable breakdown since the asset began trending upward from sub-$600 levels earlier this year.
“A pullback after such an extended run is not unusual,” one BitXJournal market analyst noted. “But with the macro backdrop shifting and liquidity tightening temporarily, traders want to see strength hold above the $1,050 region. A breakdown here exposes a larger retracement.”
Volume profiles show elevated sell pressure, though long-term trend support from mid-summer remains intact. Momentum indicators have started cooling from overheated conditions, offering potential for gradual stabilization if buyers re-enter.
Still, analysts emphasize that a close back above $1,120–$1,150 would signal renewed confidence and could re-open the path toward $1,250 and eventually retesting the all-time high.
“The market is digesting the Fed’s mixed messaging,” BitXJournal strategist explained. “If broader sentiment recovers, BNB could resume its trend, but the short-term technical picture requires caution.”
With BNB currently holding near $1,077, the market’s next reaction at this support zone will likely dictate the near-term trend. As long as bulls defend the $1,050–$1,100 region, the broader uptrend structure remains intact. A decisive bounce could mark the start of another recovery cycle, while failure to reclaim $1,120 risks a move toward deeper support levels below $950.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.