BNB price slides toward $830 as selling pressure builds
The post BNB price slides toward $830 as selling pressure builds appeared on BitcoinEthereumNews.com.
BNB price hovered near $830 as increased trading activity and falling open interest showed traders cutting risk during the recent pullback. Summary BNB trades near lower Bollinger Band after a sharp drop from recent highs. Volume rose while open interest fell, pointing to position unwinding. Charts still favor sellers unless price reclaims key resistance levels. BNB changed hands at $832 at press time, falling roughly 4% over the past 24 hours as the recent pullback extended. Price has moved between $830 and $899 over the last seven days and is now down 4.3% on the week. Losses are deeper on a longer time frame, with BNB down 8.4% over the past 30 days and still 39% below its October peak of $1,369. Trading activity picked up during the decline. BNB (BNB) recorded $2.51 billion in volume over the last 24 hours, up 33.6% from the previous day. This jump in volume points to active repositioning rather than quiet consolidation as the price moved lower. Derivatives data adds context to the move. According to CoinGlass data, derivatives volume surged 48% to $2.03 billion, while open interest fell 1.72% to $1.33 billion. This mix suggests traders are closing positions into volatility, with leveraged exposure being reduced. Fundamentals stay firm despite price weakness The pullback comes even as BNB’s longer-term fundamentals continue to improve. Abu Dhabi Global Market recently granted Binance full regulatory approval, making it the first cryptocurrency exchange to receive exchange, clearing, and brokerage licenses under the framework. Binance’s reputation among institutions and regulators is enhanced by the approval. BNB Chain is also seeing increased adoption in real-world applications. BlackRock’s tokenized treasury fund is now supported by the network, which enhances institutional credibility and generates real on-chain demand. In addition, BNB’s auto-burn mechanism has been reducing the supply in circulation, strengthening…
