Technical analysts are issuing warnings for two major altcoins, Binance Coin (BNB) and Shiba Inu (SHIB), highlighting critical support levels that, if broken, could lead to significant price declines.
Binance Coin (BNB) faces a crucial test at the $526 support level. Analyst Crypto Patel detailed that BNB recently bounced approximately 21% from the 0.5 Fibonacci retracement level, confirming it as a strong demand zone. However, the outlook remains precarious. Patel identifies $526 as the next major decision point; holding above it could allow the recovery to continue, but a break below would open the door to a deeper correction toward a second accumulation zone between $450 and $380. Patel's long-term bullish target remains near $3,000, contingent on a strong altcoin season, but he warns that a drop toward $400 is possible before any major rally materializes.
Shiba Inu (SHIB) is showing bearish technical signs, struggling below a descending resistance line. Analysis highlighted by MyCryptoParadise shows SHIB has been repeatedly rejected at this key trendline, indicating sustained selling pressure. The current structure suggests a potential pullback toward initial support at $0.00000545, representing a roughly 10.5% decline from recent levels. If that minor support fails, the next major demand zone sits at $0.00000507. The bearish outlook would only be invalidated if SHIB manages to break above the resistance band near $0.00000656.
