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Binance has been granted a license to operate in Dubai
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Native token BNB is trading at the $270 support
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BNB faces further decline if recovery stalls as bearish signals emerge
BNB (BNB/USD) continues to struggle despite a modest uptick on Thursday. The recent weakness reflects broader macroeconomic concerns after the Federal Reserve raised interest rates on Wednesday. Like many exchange-linked tokens, BNB is being weighed down by softer market sentiment and a decline in trading volumes.
That said, BNB is not the market’s largest loser: it is down about 2.13% over the past week. The token currently trades around $270, well below its mid‑August peak near $335. This pullback is largely attributable to profit-taking, with $335 acting as a clear resistance level.
One positive development: Binance received a Minimal Viable Product (MVP) license in Dubai on Tuesday. This license permits the exchange to provide a range of digital asset services to local investors and to leverage domestic banking channels to expand its digital money offerings. The MVP follows a provisional office license Binance obtained in the UAE in March.
BNB caught between a bearish trendline and support
Since the August high, BNB has been trading beneath a bearish trendline. The $270 area is now a key support zone where buyers may step in.
Source – TradingView
After testing the $270 support, BNB has shown some recovery, but caution is warranted. The token formed a bearish pin bar at this support, consistent with the month‑long downtrend. Moving averages continue to signal bearish momentum.
The Relative Strength Index (RSI) sits around 44, indicating BNB has not yet reached oversold territory. If the token fails to hold and recover from the current level, the next notable support lies near $244.
Summary
If BNB does not mount a recovery from the $270 support, the downtrend may persist and price could revisit the $244 area as market sentiment remains tepid.