BNB Falls 4.3% as Traders Eye Key Support Levels After Record High

BNB slid 4.3% in the last 24 hours, falling from $808 to $764 in a sharp pullback that erased a portion of its gains month-to-date.

The drop came on heavy volume, with traders watching a critical support zone around $744 to $753 as the next test for the market.

At one point, BNB touched a 24-hour low of $744.56 and briefly rebounded to $759.35. The movement suggests traders may be consolidating near these levels, though price action continues to form lower highs in a sign the downtrend remains intact, according to CoinDesk Research’s technical analysis model.

The price has kept on sliding throughout the trading session, reinforcing concerns about continued selling pressure. The $744 floor is being watched to see whether holds or breaks, which could set the stage for further declines.

BNB has underperformed the wider crypto market over the last 24 hours, as the CoinDesk 20 (CD20) index has dropped 3.6% over the same period.

The pullback follows a strong rally that pushed BNB to a record $804 on July 23. Nasdaq-listed Nano Labs acquired $90 million worth of BNB recently, while companies including Build & Build Corp. and WindTree are also accumulating.

On social media, Binance founder and former CEO Changpeng Zhao commented on the cryptocurrency’s recent performance, showing appreciation for ecosystem participants.

Still, the selloff suggests traders are now taking profits or repositioning amid a broader surge in altcoin trading volume and network upgrades across BNB Chain.