BNB has been cooling off after a choppy end to October, and the chart is starting to look like it wants to make a big decision soon.
Right now, BNB price trades around $1,085 after dropping a couple percent in the latest 4-hour candle. It’s a pullback, yes, but the bigger picture still depends on what happens next around support.
BNB Rejected at $1,200 and Still Drifting Lower
A few days ago, the BNB price tried to break out above $1,200, but that push didn’t last. The rejection from the $1,374 local high led to a steady bleed downward, and now the price is getting uncomfortably close to support just above $1,050.
If BNB holds this area, the trend can recover. But if $1,050 fails, the chart points straight toward $1,000, and nobody wants to see that round number tested right now. That’s where fear tends to kick in.
Read Also: Here’s the Binance Coin (BNB) Price If the Burn Trend Continues
What the BNB Chart Is Showing Right Now
The RSI is sitting in the low-40s, which tells us buyers are losing momentum but the market isn’t oversold enough for a strong bounce yet. It’s that awkward in-between zone where anything can happen.
The MACD is also signaling weakness. Red bars are widening again, and the signal line is still above. Sellers still have the upper hand here.
On top of that, BNB net long positioning continues to drop. Traders are closing longs, not adding them. That’s usually a confidence problem, not a leverage shakeout.
Open interest isn’t rising during this drop. That means there’s no big short build-up and no aggressive dip-buying either.
Everyone is cautious and basically waiting for someone else to make the first move. In other words, the market is on pause until a breakout or breakdown forces a decision.
Where BNB Price Could Go Next
If BNB price manages to reclaim $1,200, the sentiment flips quickly. Traders would start targeting a fresh attempt at $1,374, and if that level finally cracks, $1,500 comes back into play for November.
But if support at $1,050 gives out, we could see a fast drop toward $1,000. And below that, momentum might shift way more bearish than bulls want to admit right now.
BNB Faces a Big November Moment
BNB price has been strong most of this year, but right now the market wants proof that buyers are still here. Holding support keeps the trend alive. But breaking down flips the whole structure lower.
It’s one of those moments where traders can feel the tension building. The BNB chart doesn’t want to stay flat for long.
November will show us whether BNB is gearing up for another run or if this cooldown has further to go. Either way, the next move is likely just around the corner.
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