BNB May Dip to $400 Before Resuming Its Bullish Momentum

Binance Coin (BNB) has been riding a bullish market structure since early 2024, but recent price action suggests a deeper retrace may occur

Binance Coin (BNB) has been exhibiting a bullish market structure since early 2024, but recent price action suggests that a deeper retrace may occur before any significant breakout. The asset is currently being contained in the center of a high time frame trading channel that began in February 2024.

Several major technical indicators are converging around the $400 level, rendering a retest of this zone probable before any continuation to higher targets, including the $800 region.

Key technical points:

BNB has respected its high time frame trading channel with precision, reacting off both the lower and upper boundaries over recent months. Price is currently being contained near the channel’s mid-range, a zone that is typically associated with uncertainty or indecision.

However, from a technical standpoint, there’s significant support layering around the $400 level, which serves as the channel low. This $400 zone is further reinforced by a trifecta of confluences: the 200-week moving average, the 0.618 Fibonacci retracement level from the recent swing low to high, and a visible liquidity pocket that hasn’t yet been tapped. These indicators collectively form a magnet for price action.

If price were to sweep the resting liquidity under current levels and tap into this zone, it would complete a healthy retest of the channel low and set up a more sustainable uptrend.

Structurally, a move down toward $400 wouldn’t invalidate the bullish trend — instead, it could strengthen it. A confirmed higher low around this support level would solidify the market structure and offer a springboard toward the upper boundary of the trading channel, which sits around $800. That would essentially double BNB’s value from the $400 retest area, providing a compelling risk-to-reward scenario for long-term traders and investors.

What to expect in the coming price action:

Overall, BNB remains bullish over the high time frame, but a temporary retrace toward $400 is technically warranted and would serve as a strong accumulation zone. If support holds, the path toward $800 becomes a high-probability outcome, completing the next leg in BNB’s long-term channel structure.