Binance Coin (BNB) has extended its sharp decline, falling into the $650–$660 zone as selling pressure intensified across the broader cryptocurrency market. This move places BNB near price levels not seen since mid-2024, marking a decisive breakdown from its previous consolidation range.
The altcoin has dropped roughly 47% from its cycle high above $1,250. After failing multiple times to reclaim the $900–$950 zone, the price action weakened further into early 2026. The recent leg down was rapid, with BNB slicing through former support levels near $750 and $700 without meaningful consolidation, indicating strong sell-side pressure.
Technical metrics underscore the severity of the move. Volatility has climbed above 6%, while the 14-day Relative Strength Index (RSI) sits near 23, firmly in oversold territory. Both the 50-day Simple Moving Average (SMA) at $872 and the 200-day SMA at $895 are now far above the spot price, highlighting how stretched the downside move has become.
Volume spikes coincided with sharp downside candles, particularly during the most recent sell-off. This pattern suggests selling pressure intensified as price broke key psychological levels, with a lack of strong rebound volume implying limited dip demand. Market sentiment remains deeply risk-off, with the Fear & Greed Index at 12, signaling extreme fear.
On the hourly chart, the price is falling after a breakout of the local support at $672.70. If the daily candle closes near current levels, analysts warn the decline may lead to a test of the $600 area in the coming days. The weekly chart shows a similar bearish picture, with the potential for a further drop to the $600 range.
BNB was trading at $665.55 at press time, having fallen 7.79% over the previous 24 hours.
