Traders Monitor Support Levels as BNB Pulls Back 4.3% Post-Record Rally

BNB Drops 4.3% From Record High as Price Tests Key Support Near $744

Correction Accelerates After All-Time High, Traders Eye Breakdown or Bounce

BNB is under pressure after a sharp 4.3% drop over the past 24 hours, falling from $808 to $764 as momentum cooled following its recent rally to a record $804 on July 23. The decline brings the token into a critical support zone between $744 and $753, with traders closely monitoring whether this level holds or breaks.

Intraday price action saw BNB touch a low of $744.56 before briefly rebounding to $759.35. Despite the bounce, a clear pattern of lower highs remains in place—indicating that the short-term downtrend is still intact, according to CoinDesk Research’s technical model.

Heavy Volume Suggests Active Repositioning

The selloff came on elevated volume, pointing to aggressive profit-taking and portfolio rotation. BNB’s 4.3% decline outpaced the broader market, with the CoinDesk 20 Index slipping 3.6% over the same period. This relative weakness has heightened focus on the $744 floor as a key line of defense.

If this support level fails, analysts warn of the potential for deeper losses. Conversely, a firm hold could reset the base for another leg higher.

Long-Term Confidence Still Evident

Despite short-term volatility, institutional interest in BNB remains strong. Nasdaq-listed Nano Labs recently purchased $90 million worth of the token, while firms such as Build & Build Corp. and WindTree continue to accumulate. Binance founder and former CEO Changpeng Zhao also acknowledged the token’s performance, expressing gratitude for ongoing ecosystem support via social media.

Profit-Taking Amid Network Growth

The recent pullback comes amid heightened trading activity across altcoins and ongoing development on BNB Chain. Analysts attribute the correction to routine profit-taking following the breakout to all-time highs, with some capital rotating into other ecosystem plays.

What’s Next?

All eyes are on the $744–$753 range. A sustained defense of this zone could signal stabilization, while a breakdown may trigger accelerated selling. For now, BNB remains in a consolidation phase, with traders looking for a clear signal on whether support will hold or give way to further downside.