BNB remains under pressure as bearish signals persist despite Binance developments

​​​BNB remains under pressure

​Over the past month, Binance Coin (BNB) has experienced a mixture of market pressures and renewed interest as broader crypto sentiment shifted and strategic developments emerged around its parent exchange, Binance.

​After early-December strength - partly driven by strategic changes at Binance - BNB’s price encountered resistance and subsequently weakened. The token failed to sustain levels above approximately $928.00 and has since drifted below its key 200-day simple moving average (SMA), reflecting growing bearish momentum and a cautious outlook among traders.

​Technical indicators recently strengthened the downtrend narrative, with on-chain metrics showing rising retail participation and a shift toward sell-side dominance that has weighed on price action.

​This recent decline has coincided with broader market risk aversion linked to macroeconomic conditions. Even though the US Federal Reserve (Fed) delivered a widely anticipated rate cut, markets appeared to interpret accompanying guidance as relatively cautious, which contributed to risk assets - including major cryptocurrencies like BNB - trading lower in response.

​On-chain and derivatives data revealed that more traders were betting on further declines, with funding rates turning negative - historically a sign of bearish sentiment - as BNB price momentum weakened.

​Despite the medium-term downturn, BNB has benefited from strong structural narratives that still attract investor attention.

​Early in December, internal developments at Binance helped briefly lift sentiment: after the exchange named co-founder Yi He as co-CEO and continued its regulatory push -  including securing a global licence under the Abu Dhabi Global Market framework - BNB experienced a notable price uptick. These leadership and regulatory milestones were interpreted as positive signals of Binance’s long-term strategic positioning, even if that optimism has since faded somewhat in price terms.

​Beyond price action, ecosystem activity linked to the BNB Chain has also featured in recent discussions about the token’s broader relevance. Growth in non-fungible token (NFT) trading volume on the BNB Chain, which ranked second among blockchains in recent weekly activity, underlines ongoing utility in areas beyond pure speculation and highlights the token’s embedded role in the network’s decentralised finance and Web3 applications.

​Institutional forecasts and price models published over the last few weeks reflect a wide range of expectations for BNB’s near-term trajectory. Some technical analyses point to potential upside scenarios if BNB can overcome resistance in the $920.00–$949.00 zone, suggesting that a break above these hurdles could pave the way toward the psychological $1,000.00 level before year’s end. Conversely, sustained selling pressure and failure to reclaim higher levels might leave lower support zones vulnerable to renewed tests.

​Taken together, the last few weeks for BNB illustrate a market coping with competing forces: short-term bearish technical signals and macro risk aversion on one side, and ongoing structural narratives related to Binance’s leadership evolution, regulatory progress and ecosystem adoption on the other.

​As year-end approaches, BNB’s direction will likely depend on whether bullish catalysts such as network activity expansion and technical breakouts can outweigh the prevailing caution among traders and broader market sentiment.

​BNB bearish scenario:

​BNB has been range trading below its early December peak at $928.50 for the past few weeks before slipping below its 200-day SMA at $872.10 for the third time since late November.

​Whilst remaining below the moving average, the November and early December lows at $802.60-to-$791.80 may be revisited.

​A fall through this support zone would probably put the August low at $729.70 back on the map.

​BNB bullish scenario:

​BNB needs to not only break through its October-to-December downtrend line at $870.10 but also rise above its 200-day SMA at $872.10 for bearish pressure to abate.

​Even then a rise and daily chart close above the $899.70 mid-December high is needed for the 4-to-9 December highs at $928.10-to-$928.50 to be back in focus.

​Only if this resistance zone were to be bettered, may the mid-November high at $949.60 and perhaps also the 10 November high at $1,018.40 be reached. The area between it and the September high and mid-October low at $1,020.50-to-$1,087.30 would likely to act as resistance in this scenario, though.

​Only a rise above the 30 October high at $1,129.80 would give a sustained bullish reversal more credibility.

​​Short-term outlook: bearish while below $870.10-to-$872.10

​​Medium-term outlook: neutral while above $802.60-to-$791.80 but below $928.10-to-$928.50 

BNB support and resistance analysis chart

Binance daily candlestick chart