BNB News Today: Why Bulls Must Defend the $1,000 Support

BNB price has entered a critical zone near $1,000, with weakening technicals and on-chain data suggesting that a failure to hold this level could trigger a deeper correction toward $845.BNB Bulls Fight to Defend Key $1,000 SupportBNB, the native token of Binance’s BNB Chain, has struggled to regain bullish momentum this week, slipping nearly 10% over the past seven days to trade around $1,072 as of Wednesday.Analysts warn that the $1,000 psychological level remains the most important line of defense for bulls. A decisive close below this mark could expose BNB to further downside risks.“BNB is holding strong around the $1,060 support zone after a recent drop,” said crypto analyst BlockchainBaller on X. “If price breaks above the $1,107–$1,120 range, a move toward the $1,140 zone looks possible.”That region also coincides with the 200-period and 50-period simple moving averages (SMA), which currently act as short-term resistance. A breakout above $1,140 could open the path toward $1,180, aligning with the 100-period SMA, where stronger selling pressure may reappear.“A clean breakout could trigger the next leg up,” the analyst added.Bearish Scenario: A Close Below $1,000 Could Spell TroubleBNB’s first immediate support lies between $1,050 and $1,020, the zone tested multiple times since mid-October. Below that, the $1,000 level—which has served as a psychological and technical floor since September 30—becomes critical.If BNB fails to hold that line, the next support range lies between the 100-day exponential moving average (EMA) at $955 and the September 25 low around $930.A steeper correction could send BNB to $874, marking a retest of the October 11 wick, and potentially to $845, based on a descending triangle breakdown target observed on the six-hour chart.The pattern’s breakdown confirms a short-term bearish structure, suggesting that failure to reclaim the triangle’s support line near $1,069 could accelerate the sell-off. Such a move would represent a 21% correction from current levels.Momentum Indicators Turn BearishThe Relative Strength Index (RSI) has dropped from 86 to 41 in two weeks, falling below the neutral 50 zone—signaling increasing bearish momentum.As Cointelegraph previously noted, a sustained move below $1,020 may indicate that BNB has already topped out in the short term, paving the way for consolidation or further declines.On-Chain Data Shows Weakening DemandData from CryptoQuant paints a concerning picture for bulls. The 90-day spot taker cumulative volume delta (CVD)—which tracks the net difference between buy and sell orders—has turned negative, highlighting renewed selling dominance.Since BNB’s all-time high at $1,375, sell-side activity has surged as traders take profits. Negative CVD (red bars) indicates more sell orders than buy orders, suggesting that market demand is fading while supply increases.If this trend persists, BNB could remain under pressure in the near term, mirroring historical correction patterns observed in past market cycles.BNB’s Path ForwardWhile short-term signals point to potential weakness, analysts remain divided on whether this correction represents a healthy reset or a deeper trend reversal.Sustaining the $1,000 level will be crucial to maintain market confidence and preserve the broader uptrend. A rebound above $1,140–$1,180 could shift sentiment back in favor of bulls, but failure to defend key supports risks extending the correction toward $845, according to Cointelegraph.