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 at $874, adding to the bearish setup. These indicators often serve as signals to traders that a short-term uptrend may be ending.

While BNB found some footing near $861.95, multiple attempts to recover toward $870 met resistance. The token is now trading in a tight range, with buyers defending the $864–$867 zone and sellers capping gains near $868.50.

For now, traders appear cautious. A recovery above $874 could shift momentum, but with network activity set to pause, most are waiting for the upgrade to complete before taking new positions.

A deeper slide could push BNB toward $839, the next technical support based on Fibonacci levels.

Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.