Binance Coin is showing signs of exhaustion after breaching the $800 mark.
Weak follow-through, declining volume, and repeated rejections suggest the rally may be losing steam.
Summary
- Price rejected multiple times after breaching $800 resistance.
- Declining volume profile signals reduced bullish momentum.
- Risk of deviation could lead to drop toward point of control and value area low.
Binance Coin (BNB) recently established an all-time high above $800, but technical signals now point toward potential weakness. The inability to maintain bullish momentum, combined with fading volume, raises the risk of a deviation at the range high and a deeper short-term correction.
Key technical points:
- Critical Resistance: $800 serves as the range high and must hold to maintain bullish structure.
- Volume Decline: Steady decrease in bullish volume since the breakout indicates waning buying interest.
- Downside Target: A loss of $800 could trigger a rotation toward the point of control and value area low.
After breaking through the $800 resistance, BNB initially looked poised for continuation to the upside. However, repeated rejections at this level have stalled momentum. Price action has failed to deliver sustained bullish follow-through, leaving the door open for a possible deviation of the range high — a structure that often precedes sharp reversals.
From a market structure perspective, a deviation here would be considered bearish, signaling that bulls were unable to defend higher prices. A close back below $800 on the daily timeframe would confirm the deviation pattern and significantly increase the probability of a rotation lower, targeting the point of control.
Volume analysis supports this bearish caution. Since the breakout, the volume profile has shown a steady decline, suggesting reduced market participation and fading bullish enthusiasm. In healthy bullish trends, volume should expand alongside price; the opposite is occurring on BNB. Without fresh buying pressure, sustaining price above $800 becomes increasingly unlikely.
A corrective move below $800 could quickly send price toward the point of control, located in the midrange of the current trading structure. If selling accelerates, the value area low becomes a potential magnet for price, setting up a broader retracement phase.
What to expect in the coming price action
If BNB fails to close above $800 in the coming sessions, expect a downside rotation toward the point of control. A confirmed deviation would likely result in further weakness, while reclaiming $800 with strong volume would invalidate the bearish bias.