BNB Drops Below $865 as Crypto Market Moves Lower
The price of BNB, the native token of the BNB Chain, dropped more than 2.7% in the last 24-hour period to $865 as traders digested the Federal Reserve’s 25 bps rate cut.
While precious metals and equities rose, cryptocurrencies moved down with the broader CoinDesk 20 (CD20) index losing 3.4% of its value over the same period.
The token opened the session at $890 and touched a high of $908.83 before reversing sharply. Selling pressure increased as BNB pierced through $870, a key support zone that had held in recent weeks, according to CoinDesk Research’s technical analysis data model. The breakdown was backed by volume, with trading activity surging.
BNB also fell below its 30-day moving average and the 23.6% Fibonacci retracement level…
