BNB price slipped 2.7% over the past 24 hours to $1,105 following the rally that began after the disappearance of BNB Chain’s largest quarterly token burn on record in US dollar terms.
The drop undermined hopes that the $1.6 billion supply cut would further support the price. BNB Chain burned 1.44 million BNB under the token’s deflationary pattern, reducing the token’s total supply to approximately 137.7 million.
Traders focused elsewhere, however, with the crypto market as a whole falling 1.8% over the period, measured via the CoinDesk 20 Index (CD20).
When the $1,128 support level failed, volume surged and prices cascaded lower, briefly reaching an intraday low of $1,076. More than 308,000 BNB changed hands in a single hour, nearly three times the usual daily average according to CoinDesk Research’s technical analysis data model.
Bounce attempts repeatedly stalled near $1,110, forming a series of lower highs and reinforcing the bearish structure. Short-term oversold conditions have not stopped the fall.
Traders nonetheless reacted to technical signals, an environment in which price levels and key volume changes carry more weight than structural design. For now, the chart points to $1,076 as the next major support.
A convincing break above $1,128 would be required to change market sentiment. Until then, the dynamic remains slow.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance. our standards. For more information, see CoinDesk Comprehensive AI Policy.
