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BNB price drops over 16%, risks deeper correction toward $500 amid failed trendline retest.

Technical Signals
09 Jun 2026
Crypto news
View Source
Bearish
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BNB price has fallen more than 16% from its recent peak near $720, with technical patterns suggesting a possible deeper correction toward the $500 support zone. A broken multi-year ascending trendline on the weekly chart has turned into resistance between $700 and $750 after a failed retest, while daily price action shows a megaphone pattern indicating high volatility. Key levels to watch include resistance near $673 and support around $560, which will influence whether BNB recovers or falls further. Despite recent market volatility and liquidation events, Binance's ecosystem continues to grow, especially in AI-focused applications, supporting transaction demand amid price pressure.

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