BNB Price Targets $800 as 200-Day Moving Average Resists Upward Movement

Summary:
The price of BNB is currently under significant pressure as it struggles to overcome the 200-day moving average (MA), a critical resistance level. With repeated failures to break through, the likelihood of a price decline towards the $800 support level is increasing.

Key Takeaways:

BNB faces continued resistance from the 200-day moving average, exerting downward pressure on its price.
The loss of the Point of Control (POC) indicates a potential shift in market dynamics favoring sellers.
A deeper retracement toward the $800 support level is probable unless bullish momentum returns.
Technical indicators suggest bearish trends dominate until key resistance levels are reclaimed.

BNB price targets lower prices as weakness continues

BNB Price Technical Analysis

BNB price targets $800, 200 MA rejects upward attempts - 1
BNBUSDT (4H) Chart, Source: TradingView

BNB's technical indicators have continued to decline after failing to surpass the 200-day moving average. This critical level has acted as a strong barrier to price increases, leading to sharp rejections on multiple occasions. The latest rejection saw the formation of a significant bearish engulfing candle, emphasizing the strength of the sellers in this area and demonstrating a lack of bullish momentum.

This downward movement has also caused BNB to drop below the Point of Control (POC), which represents the highest-volume price level in the current market. When the price falls below the POC, it often signals a shift in market dynamics, typically indicating further downward movement. For BNB, this suggests a potential decline toward the Value Area Low (VAL) and ultimately the significant support level of $800.

The overall market structure supports a bearish outlook. Following the loss of the Value Area High weeks back, BNB has struggled to establish a strong bullish trend. Instead, it has maintained a downtrend characterized by lower high points, failed upward breaks, and consistent rejections at essential moving averages. The inability to reclaim these critical levels strongly indicates that sellers remain in control.

Additionally, there is unresolved liquidity building just below current price levels. Markets typically aim to target these liquidity zones, and BNB's drop below the POC increases the likelihood of a full market rotation, following auction-market principles to test lower price levels until buyers return.

From a technical standpoint, the 200 MA plays a critical role in current trends. Each unsuccessful attempt to break above it has not only seen rejections but also strong downward momentum. This highlights a robust bearish reaction zone, illustrating that BNB lacks the strength to push higher without considerable volume and a change in market structure.

As long as BNB remains below the 200-day moving average and the POC, a continuation of the bearish trend seems more likely, particularly as overarching market narratives, including XRP and BNB's combined market goal of $200 billion, reflect increasing expectations amid existing structural weaknesses.

Future Price Expectations

BNB is expected to stay below its 200 MA unless bullish forces successfully reclaim this level and recover the POC. If these conditions do not materialize, the likelihood of a complete rotation to the Value Area Low and a re-test of the $800 support level increases. A rebound could occur at this support point; however, until significant upward structural levels are broken, bearish tendencies will remain dominant.