BNB Slips Toward $850 as Bitcoin-Led Sell-Off Grips Markets
BNB's price dropped toward $850 amid a wider crypto market sell-off led by Bitcoin's retreat to the $87,000 level. Here are the key support and resistance levels traders are watching.
The price of dropped over in the past 24 hours, nearing the mark on Tuesday, as a broader market pullback led by weighed on major tokens. The move erased recent gains and places the asset at a critical juncture as traders assess key technical levels for its next direction.
Market-Wide Correction Hits Altcoins
The decline isn't isolated to . It comes as sank from above to the area. Reflecting the risk-off sentiment, the wider index, a measure of the broader digital asset market, lost over the same period. According to analysis, recent spikes in trading volume suggest defensive positioning from traders rather than fresh risk-taking.
Key Levels to Watch
For now, traders see entering a consolidation phase, likely trading between and . A decisive break above this range could renew calls for a move toward . However, a drop below the support level would suggest deeper losses are on the horizon.
Despite the price pressure, there are some positive signs for the ecosystem. Major prediction market recently added support for deposits and withdrawals of and stablecoins on the , signaling continued adoption and utility.
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