Key takeaways
- Binance’s BNB has slipped about 1% even as other leading cryptocurrencies post gains.
- The coin could revisit a low near $820 before climbing back above $900.
BNB stays above $850 as market shows signs of recovery
BNB, the native token of the Binance ecosystem, has declined by just under 1% over the past 24 hours despite a modest recovery across the wider crypto market. This relative weakness leaves BNB trading around $850 while BTC, SOL, BCH and XRP are pushing higher.
The calm price action comes even after Binance announced the launch of its Mexican unit, Medá. The exchange says Medá is registered as an electronic payment institution and will operate as an independent division focused on advancing Binance’s fintech services across Latin America.
Binance also pledged $53 million in investment for the new unit over the next four years. Although the expansion into Latin America is a positive strategic step, it has had limited impact on BNB’s price in the short term.
BNB may test $820 again before moving higher
The BNB/USD 4-hour chart remains bullish overall, supported by the fact that BNB reached a fresh high near $900 about ten days ago. That recent all-time high keeps momentum indicators skewed to the upside.
However, the RSI reading near 46 signals growing selling pressure, and the MACD lines have crossed into bearish territory. If selling continues, BNB could retest the trendline and support area around $820 in the coming hours.
Liquidity resting near the $820 trendline may provide the bounce BNB needs to challenge the $900 peak again. If BNB fails to hold the $820 support, the next support region to watch is around $792.
A successful move back toward $900 would put BNB in a position to test the psychological $1,000 level, which—if breached—would create a new all-time high.