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BNB price drops 20%, tests key $570 support amid heavy liquidations and bearish signals.

Technical Signals
05 Jun 2026
Crypto news
View Source
Bearish
pluang ai news

BNB price has fallen about 20% from its recent peak above $740, testing a critical support level near $570 after breaking down from a bullish channel. The decline was driven by heavy liquidations exceeding $1 billion in crypto futures, deteriorating market sentiment, and regulatory concerns around Binance. Technical indicators like MACD and RSI show bearish momentum, suggesting further downside risk. Key resistance levels at $620 and $680 may hinder short-term recovery, with a break below $570 potentially leading to deeper losses toward $550 or even $500. Investors are watching closely to see if this selloff is temporary or signals a larger correction.

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