BNB’s Descent: Will $900 Be the End? 🚨

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Key Takeaways

What, pray tell, caused BNB’s 12% plunge today? A conspiracy, perhaps? Or merely the usual chaos of the market? 🤷‍♂️

BNB’s decline was driven by broader market weakness, including Bitcoin and Ethereum’s dramatic exits, and the U.S.-China trade war, which is as thrilling as a rainy day in a tea shop. 🌧️

What key level could determine BNB’s next move? A cliffhanger, I presume? 🪜

If BNB fails to hold the $1,040 support, it could drop another 14% toward the $900 mark. A drop so steep, even a tightrope walker would hesitate. 🪜

Binance Coin [BNB]  dropped 12%, at press time, increasing selling pressure and bringing the asset close to a critical breakdown level that could trigger further losses. 🚨

Despite the decline, BNB was trading near $1,040, with investor interest remaining strong, reflected in a 25% surge in trading volume to $6.72 billion over the past 24 hours. 💸

Looking at the current market sentiment and ongoing trade war, you might be wondering where the BNB price could go next. Will the price continue to decline, or is a reversal on the cards? 🤔

BNB technical outlook and key levels to watch

AMBCrypto’s technical analysis reveals that BNB has formed a bearish double-top pattern on the daily chart and is now approaching the $1,050 neckline. A classic move, like a well-rehearsed play. If BNB fails to hold this level, it could drop 14%, potentially reaching the $900 mark. Drama, thy name is BNB. 🎭

However, at press, the Average Directional Index (ADX) value had reached 29, above the key threshold of 25. This indicates that the asset has strong directional momentum. But let’s not get too excited; the market is a fickle friend. 🤡

Despite the price fall and weak market sentiment, BNB still maintains itself above the 200 Exponential Moving Average (EMA). This indicates that the asset is still in an uptrend. Or, as I like to call it, “a temporary reprieve.” 🤷‍♀️

BNB’s major liquidation level

Given the current market sentiment, BNB derivatives have shifted significantly, but traders with a bullish outlook continue to dominate. A valiant effort, if you’ll forgive the metaphor. 🦁

According to CoinGlass, BNB’s major liquidation levels stand at $1,009.5 on the lower side and $1,106.1 on the upper side. A dance of overleveraged positions, with $32.10 million in longs and $28.49 million in shorts. A financial tango, if you will. 💃🕺

When combining these metrics, it appears that BNB is still in an uptrend. However, a fall below $1,040 could bring further downside. A warning, if you will, from the market’s own hand. 🖐️

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2025-10-17 18:34