BNB falls below the $900 mark, technical analysis reveals the future market trend

【Crypto World】 Currently, the overall crypto market is under pressure, and BNB has not been spared. Its price has dropped 2.2% and fallen below the key support level of $900. The problem is that sell orders are continuously pouring in, and the rebound has been thwarted again at a critical point, turning the $900 from support into resistance.

Looking at the overall market sentiment, the CD20 index has fallen 2.6%, but trading volume has surged above the historical average. What does this indicate? Liquidity is abundant, but a bearish sentiment has already taken hold.

It is worth noting that a major exchange has recently made several moves in the opBNB ecosystem—Fourier hard fork has halved block time and doubled throughput, significantly improving DeFi ecosystem performance; at the same time, they launched silver perpetual futures and $1 million staking incentives. These positive news should have supported the price, but traders are now clearly more focused on technical signals.

To reverse the situation, BNB needs to climb back above $906 to restart its upward momentum. If this weak trend continues, the next key target level to watch is $892.

BNB-0.66%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 4
  • Repost
  • Share
Comment
0/400
BrokeBeansvip
· 01-07 17:47
Can't even hold on to $900, is it really going to crash this time? Good news piled up high can't save the market either.
View OriginalReply0
ProofOfNothingvip
· 01-07 17:42
Breaking below $900... This is getting interesting... The selling pressure is so fierce that rebounds are slapped down. Honestly, no one believes anymore. All the positive news coming down the pipeline is useless; traders have already seen through it. The technicals are the real boss.
View OriginalReply0
ser_ngmivip
· 01-07 17:38
This 900 level really turned into a nightmare, with so many positive factors unable to push it up...
View OriginalReply0
SignatureAnxietyvip
· 01-07 17:26
900 is stuck, it seems like a breakout is necessary... So many positive signals but it just can't hold up, the market sentiment is really terrible.
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)