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Invezz 2026-02-02 11:27:49

BNB price forecast: Will BNB reclaim the $800 level soon?

BNB, the native coin of the Binance ecosystem, has lost 5% of its value in the last 24 hours as the broader cryptocurrency market continues to suffer. The coin briefly dropped below $750 earlier today, but has slightly rebounded and is now trading at $764. The risk-averse conditions among traders lead to massive liquidations and a bearish shift in derivatives buildup. Technical indicators suggest that BNB’s support level at $735 could hold, which could see it rally higher in the near term. BNB derivatives market turns bearish BNB, similar to other leading cryptocurrencies, is experiencing a bearish derivatives market. According to CoinGlass , BNB’s futures Open Interest (OI) declined by over 6% in the last 24 hours, reaching $1.19 billion, indicating a steady decline in the value of outstanding contracts and consistent with risk-off sentiment in the market. Furthermore, long liquidations for BNB hit $4.65 million over the last 24 hours, compared with $313,090 for shorts, suggesting a larger wipeout of bullish positions. Its 15% decline in the last seven days makes BNB one of the worst performers among the top 10 cryptocurrencies by market cap. While it maintains its position as the 4th-largest cryptocurrency by market cap, its price is down 44% from the $1,370 all-time high it recorded in October 2025. BNB’s market cap of $104 billion is also significantly lower than the $190 billion it recorded four months ago. BNB’s funding rate has also flipped negative, indicating that the bears are currently in control of the market. Technical outlook: Will the $735 support level hold? The BNB/USD 4-hour chart, similar to other major cryptocurrencies, is bearish. It is down by more than 5% in the last 24 hours and is now trading at $764 per coin. The exchange token is currently significantly below the downward-sloping 50-day Exponential Moving Average (EMA) at $881 and the 200-day EMA at $880. The chart risks a Death Cross pattern as the two EMAs inch closer to each other. If the Death Cross happens, it would serve as a strong sell signal for traders. Currently, the 4-hour Moving Average Convergence Divergence (MACD) moves below the signal line, suggesting accelerating bearish momentum. Meanwhile, the RSI (Relative Strength Index) at 31 enters the oversold region, indicating heightened selling pressure. If the selloff continues and BNB fails to hold the $735 support level in the near term, BNB could revisit the February 2025 low at $500. However, the bulls would likely defend the $735 support, with another major support level at $620 also a possibility for a recovery. On the flipside, a reversal from the current $735 support level could see BNB rally towards the $829 resistance zone. However, the Transactional Liquidity (TLQ) at $788 could provide stiff resistance in the near term. The post BNB price forecast: Will BNB reclaim the $800 level soon? appeared first on Invezz

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