BNB Tests Key Support Near $850 as Selling Pressure Mounts Despite Modest Recovery
The post BNB Tests Key Support Near $850 as Selling Pressure Mounts Despite Modest Recovery appeared on BitcoinEthereumNews.com.
Iris Coleman
Nov 26, 2025 14:09
Binance Coin trades at $863.27 (+1.79%) while testing critical support levels amid broader crypto market volatility and declining momentum indicators.
Quick Take • BNB trading at $863.27 (up 1.8% in 24h) • Trading on technical factors in absence of major catalysts • Testing crucial support around SMA 200 at $847.66 • Following Bitcoin’s positive momentum despite own technical weakness Market Events Driving Binance Coin Price Movement No significant news events have emerged in the past 48 hours affecting BNB price action. The modest 1.79% gain appears driven primarily by technical factors and broader cryptocurrency market sentiment rather than fundamental catalysts specific to Binance or its ecosystem. The current BNB price movement reflects consolidation trading as the token attempts to establish support above the psychologically important $850 level. Trading volume of $106.67 million on Binance spot market indicates moderate institutional interest, though well below levels typically seen during major breakouts or breakdowns. With Bitcoin showing strength today, Binance Coin is benefiting from positive crypto market correlation despite its own technical challenges. The lack of significant negative news has allowed BNB to maintain its position above critical long-term support levels. BNB Technical Analysis: Consolidation Phase Price Action Context Binance Coin technical analysis reveals a complex setup with BNB price trading below most significant moving averages. The current price of $863.27 sits above the 200-day SMA ($847.66) but remains well below the 20-day ($914.30) and 50-day ($1,034.57) moving averages, indicating persistent selling pressure from higher levels. The token’s position within the Bollinger Bands (%B at 0.2627) confirms it’s trading in the lower portion of the recent range, suggesting oversold conditions may be developing. Volume patterns show steady but unspectacular trading interest. Key Technical Indicators The RSI reading of 35.96…
Filed under: News - @ November 27, 2025 4:18 am