BNB price Slid 2.7% in the last 24-hour period to $1,105 After the rise that began after the BNB chain’s largest-ever quarterly token burn in US dollar terms fade away
The rejection of the undercut expects the $1.6 billion reduction in supply to further support the price. The BNB chain burned 1.44 million BNB as part of the token’s deflationary model, shrinking the total token supply to about 137.7 million.
Traders, however, focused elsewhere, with the crypto market as a full fall of 1.8% within the period, as measured by Coindesk 20 (CD20) index.
When the $1,128 support level failed, volume moved forward and prices moved lower, briefly hitting an intraday low at $1,076. More than 308,000 BNB changed hands in a single hour, nearly three times the usual daily average according to Coindesk’s technical analysis model.
Rebound attempts were repeatedly stalled near $1,110, forming a series of lower highs and strengthening the bearish structure. Short-term oversold conditions did not stop the slide.
However, traders react to technical cues, an environment where key price levels and volume changes carry more weight than structural design. Right now, the chart is pointing to $1,076 as the next major support.
A convincing break above $1,128 is needed to shift market sentiment. Until then, the momentum remains pointed.
Disclaimer: Parts of this article were generated with help from AI tools and reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see Coindesk’s full AI policy.
