BNB Slides Toward $650 as Selling Pressure Intensifies

Binance Coin (BNB) extended its decline this week, falling to the $660–$650 zone as downside momentum accelerated across the broader crypto market.

The latest move places BNB near levels not seen since mid-2024, marking a decisive breakdown from its previous consolidation range.

BNB Price Action: From Peak to Breakdown

BNB peaked above $1,250 before entering a prolonged downtrend marked by lower highs and consistent distribution. After failing to reclaim the $900–$950 zone multiple times, price action weakened further into early 2026.

The altcoin is now trading around $658–$664, representing a drop of roughly 47% from its cycle high. The most recent leg lower unfolded rapidly, with price slicing through former support levels near $750 and $700 without meaningful consolidation, a sign of strong sell-side pressure.

Momentum and Volatility Signal Capitulation Conditions

The technical metrics reinforce the severity of the move. Volatility has climbed above 6%, while the 14-day RSI sits near 23, firmly in oversold territory. Historically, such readings reflect aggressive selling rather than orderly profit-taking.

Both the 50-day SMA ($872) and 200-day SMA ($895) are now far above spot price, highlighting how stretched the downside move has become. Price remaining this far below long-term averages typically signals panic-driven conditions rather than a stable trend.

Volume Confirms Distribution Phase

Volume spikes visible on the chart coincide with sharp downside candles, particularly during the most recent sell-off. This pattern suggests that selling pressure intensified as price broke key psychological levels, rather than buyers stepping in to defend them.

The lack of strong rebound volume following the drop implies that dip demand remains limited, keeping price vulnerable to further downside volatility in the short term.

Market Sentiment Remains Deeply Risk-Off

Sentiment indicators reflect the technical weakness. BNB is currently classified as bearish, with the Fear & Greed Index at 12, signaling extreme fear conditions. While oversold readings often precede relief rallies, they do not guarantee immediate reversals, especially when broader market confidence remains fragile.

What the Chart Is Telling Us

BNB’s current structure points to a market focused on de-risking rather than accumulation. The combination of a sharp drawdown, elevated volume on sell-offs, and deeply oversold momentum suggests a late-stage capitulation phase may be developing, but confirmation would require stabilization and reduced volatility.

Until price reclaims broken support zones, the chart continues to favor caution over confidence.

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