BNB has experienced a significant decline of over 16% from its peak near $720, and a prominent megaphone pattern on the daily chart indicates that the token may test the $500 support level. The price currently hovers around $602 after bouncing from a low of $560 during a market-wide liquidation event that saw nearly $1.8 billion in forced closures across crypto derivatives. This sell-off was exacerbated by weak risk appetite, as US spot Bitcoin ETFs faced consecutive outflows and capital shifted toward AI stocks.
On the weekly chart, a multi-year ascending trendline that once served as support has been broken and is now acting as resistance between $700 and $750. A failed retest of this level confirms bearish control over the longer-term trend. Even though the ecosystem continues to grow—with Binance launching the BNB Hack AI Trading Agent Edition—the price remains under pressure. The RSI on the weekly timeframe has dropped to around 40, and the MACD is still below zero, indicating that buyers lack strength.
The daily chart reveals a megaphone pattern characterized by expanding highs and lows, a setup that often signals heightened volatility. After testing the upper boundary near $720, BNB fell sharply to the lower boundary at $560, where buyers stepped in. However, the token remains beneath the Supertrend resistance at $673, which is a key level to watch. If the price fails to break above this threshold, it could revisit the lower edge of the megaphone pattern and the major support zone near $500. On the upside, a move above $673 might allow a retest of $720 and the weekly resistance area.
Liquidation data suggests that short positions are clustered above current prices, meaning a rally toward $650–$680 could trigger a squeeze and fuel further gains. For now, traders are focused on the battle between support at $560 and resistance at $673, with the outcome likely determining whether BNB recovers or slides toward the critical $500 level.