BNB price is now trading around $609, slipping below the previously defended $620 golden pocket level and putting long-term support to the test.
Summary
- Price dips under the $620 0.618 Fibonacci “golden pocket”
- Trading near the 200-week moving average, a key macro support
- Structure remains intact — but bulls need a reclaim of $620
Binance (BNB) is once again at a critical inflection point after losing the $620 region that had been acting as a high-timeframe support cluster. Following weeks of corrective pressure, price briefly stabilized at the 0.618 Fibonacci retracement before slipping modestly lower, now hovering near $609.
This move shifts the technical narrative slightly: rather than cleanly holding support, BNB is now probing the lower bounds of a major confluence zone. Whether this becomes a deviation below support or the start of deeper consolidation will likely define the next multi-week trend.
BNB price key technical points
- $620 remains the high-timeframe golden pocket (0.618 Fibonacci retracement)
- Price is hovering around the 200-week moving average
- A reclaim of $620 would strengthen the bullish case
- Sustained acceptance below opens the door to further downside exploration
The $620 level continues to carry heavy technical weight. It marks the 0.618 Fibonacci retracement of the broader advance — often referred to as the “golden pocket,” a zone that frequently acts as a high-probability reversal area.
However, with BNB now trading below that level, the focus shifts to whether this is a temporary liquidity sweep or a more meaningful breakdown.
Importantly, price remains near the 200-week moving average — a widely followed macro trend indicator. Historically, sustained closes below this level tend to invite extended consolidation, while swift recoveries often signal a false breakdown.
The next few weekly closes will therefore be critical.
Market structure supports a potential bottom
From a broader market structure perspective, the chart has not yet confirmed a full trend reversal. While the loss of $620 weakens the immediate bullish structure, BNB has not decisively broken down into lower macro territory.
This type of price action — slipping below support before reclaiming it — is common during bottoming formations. Markets often sweep liquidity below obvious levels before rotating higher.
If buyers step in and push price back above $620 with conviction and expanding volume, the move could be classified as a deviation, reinforcing the broader bullish structure.
If not, deeper consolidation becomes increasingly likely.
Upside targets come back into focus
Bullish case:
- Reclaim and hold above $620
- Strong weekly close back inside the golden pocket
- Gradual rotation toward higher resistance
- $932 remains the key high-timeframe resistance target
Bearish case:
- Continued weekly closes below $620
- Loss of the 200-week moving average
- Expansion in selling volume
- Potential move toward lower value areas before base formation
What to expect in the coming price action
The $932 high-timeframe resistance remains the primary upside objective if macro structure holds. However, reclaiming $620 is the first major hurdle bulls must clear before that target comes back into play.
With BNB now around $609, this is no longer simply a stabilization story — it is a support test.
High-timeframe setups require patience. The coming weekly closes will determine whether the current move becomes a confirmed breakdown or a classic deviation below major support.
For now, the broader structure is under pressure but not broken. A decisive reclaim of $620 would quickly restore bullish momentum. Failure to do so would shift focus toward extended consolidation before any meaningful upside rotation can begin.
Source: https://crypto.news/bnb-price-slps-below-620-golden-pocket/
