BNB price has declined below its $750 weekly pivot and two daily moving averages, currently trading near $729 after reaching a daily low of $708.64 on Binance. According to TradingView's analysis, the token is down 3.13% from the week's opening price of $754.24, with its weekly trading range spanning from $708.64 to $758.03. The decline follows BNB's rejection near $800 levels, marking a retreat from late-September and early-October highs.
TradingView's daily moving-average ribbon shows the 20-day simple moving average at $761.09 and the 50-day average at $744.55, both remaining above BNB's current price. At $728.66, the token trades approximately 2.2% below the 50-day average and 4.5% below the 20-day average. The chart indicates BNB remains above its 100-day simple moving average at $672.49 and 200-day average at $645.05, preserving part of the advance that began after summer lows.
Market commentator BullishBanter identified the $790–$810 area as a supply zone where BNB faced rejection before losing a rising trendline. The analyst's 4-hour chart marked two peaks near the upper boundary and a subsequent decline toward a shaded support area around $700–$710. BullishBanter stated that a break beneath this area would make a further move toward $680–$690 more likely, with the analyst watching $700 support vs $740 reclaim for the next move. Analyst Ed NL described BNB's preceding advance as a completed five-wave move and projected another downward leg after the recent rebound.
CoinGlass's one-week BNB liquidation heatmap reveals prominent concentration bands around $704–$706 and $695, both positioned beneath the $708.64 daily low. Above the market, the brightest remaining concentrations appear near $765–$766, with another prominent band around $762. Higher clusters extend through approximately $772–$780, overlapping the area just above BNB's $761.09 daily moving average. The price trace shows repeated declines during the week, including sharp moves lower on October 13 and October 15.
The decline coincides with US inflation data showing September consumer prices rose 3.7% year-over-year and 0.6% month-over-month, with gasoline prices increasing 9.1% during the month. According to Reuters, this release pushed expectations for an October Federal Reserve rate increase higher, while US stocks fell and Treasury yields rose. The TradingView charts place BNB below its $750 weekly pivot but above its $672.49 and $645.05 longer-term daily averages, with the analyst's scenario hinging on whether the $700–$710 support zone holds.
