Binance Coin Tests Key Support While Investors Await Economic Clarity
Binance Coin (BNB) has retreated from recent highs, slipping below $860 during the latest trading session as investors turn cautious ahead of upcoming U.S. jobs data. The release, which could influence Federal Reserve policy, is weighing on risk appetite across the cryptocurrency market.
The chart shows BNB’s strong recovery since late June, when the token broke out of a falling channel near $600. From there, buyers drove a rally to nearly $900, marking a multi-month high.
However, the price has since faced selling pressure around the $890–$900 resistance zone (highlighted in red). BNB is now consolidating, with immediate support resting in the $830–$840 green demand zone. A deeper pullback could expose levels near $750, while reclaiming $880 would signal renewed bullish strength.
Market watchers suggest the correction is healthy after a sharp rally. “BNB had an exceptional run through July and August, so a pause at resistance is not surprising. The $830 level is critical—if it holds, bulls may attempt another push toward $900,” According to BITX crypto strategists .
BNB remains one of the better-performing large-cap tokens this quarter, up more than 28% in recent weeks. The short-term outlook depends largely on how traders respond to the U.S. labor market report.
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.