Usman Salis
Binance Coin is under pressure. BNB is currently trading around $594, which puts it nearly 60% below its all-time high. The chart structure has been deteriorating for months, and the latest technical setup is not doing bulls any favors. BNB is forming a classic bearish flag on the 8-hour chart, consolidating inside a descending channel after a sharp drop from recent highs.
What makes this setup worth watching is the highlighted risk near the lower trendline. Price has been grinding lower in a pattern of lower highs and lower lows, with no bullish divergence on momentum indicators to hint at a reversal. The flag channel has contained price action for now, but that containment is looking increasingly fragile.
$570 Support Is the Line in the Sand for BNB Bears
The critical level to watch is $570, sitting at the lower edge of the flag channel. This is where the bearish scenario either gets confirmed or pauses. According to the analysis, a decisive break below $570 would open the door to a measured move toward the $445-450 range, mirroring the percentage drop from the prior leg down. That's a significant additional decline from current levels and aligns with the downside projection marked on the chart.
Until the structure shifts above resistance or the flag is invalidated, the bias remains tilted toward further downside.
Sellers have maintained control throughout this corrective phase, and the lack of strong buying interest at current prices suggests conviction on the bullish side is thin. A similar read was reflected in BNB Price Analysis: Binance Coin Stuck Below $668 Resistance, where persistent weakness below that zone reinforced the bearish trend.
Can BNB Stabilize, or Is a Deeper Drop Coming?
The answer likely depends on how BNB handles the $570 zone over the coming sessions. Holding above support and consolidating within the channel could slow the selling and create conditions for range-bound trading. That would at least stop the bleed. But without a meaningful shift in momentum, any bounce risks being just another lower high in the sequence.
It's worth noting that BNB recently triggered signals last seen during the 2022 market bottom. Binance Coin Hits Rare Oversold Level Not Seen Since 2022 Bottom flagged this development, though oversold readings alone don't guarantee a reversal, especially within an intact bearish structure. Similarly, BNB Price Analysis: Binance Coin Holds $600 Channel Support highlighted the importance of this broader support zone that is now being tested again.
For now, the bearish flag is the dominant pattern, $570 is the key level, and $445-450 is the target if things break down. How BNB reacts at these levels will likely set the tone for near-term price structure across major crypto assets.
Usman Salis
