BNB price below $620 support

BNB BREAKS $620 FIBONACCI LEVEL, TESTS LONG-TERM SUPPORT NEAR $609

ByMolly McNearney

BNB is currently trading near $609, falling below the previously defended $620 “golden pocket” level. This area had been acting as an important high-timeframe support zone, making the recent move technically significant.

After several weeks of corrective pressure, BNB initially stabilized around the 0.618 Fibonacci retracement level—often considered a strong support region. However, price has now drifted lower, putting long-term structure to the test.

This shift changes the short-term outlook. Instead of clearly holding support, BNB is now testing the lower boundary of a broader confluence zone. The coming weeks will likely determine whether this is a temporary dip or the beginning of deeper consolidation.

Why the $620 Level Matters

The $620 region carries strong technical importance. It represents the 0.618 Fibonacci retracement of the broader upward move—commonly known among traders as the “golden pocket.”

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This level frequently acts as a high-probability reversal area during pullbacks.

With BNB trading below it, the key question is whether this move is simply a liquidity sweep—where price briefly dips below support before recovering—or a more meaningful breakdown that could lead to extended sideways movement.

200-Week Moving Average in Focus

Another important factor is the 200-week moving average, a widely followed long-term trend indicator.

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Historically:

  • Sustained closes below this level often lead to prolonged consolidation phases.
  • Quick recoveries above it tend to signal a false breakdown.
  • Because price is hovering near this indicator, the next few weekly closes will be critical for confirming direction.

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Market Structure Still Intact—For Now

Despite the loss of $620, the broader market structure has not yet confirmed a full trend reversal.

While short-term bullish momentum has weakened, BNB has not decisively broken into lower macro territory. This type of price behavior—dipping below support before reclaiming it—is common during bottoming formations. Markets often test liquidity below key levels before rotating higher.

If buyers step in and reclaim $620 with strong volume, the recent dip could be classified as a deviation, reinforcing the larger bullish framework.

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If that recovery fails to materialize, deeper consolidation becomes more likely.

What Comes Next for BNB?

The larger upside target remains the $932 high-timeframe resistance level, but that scenario depends on reclaiming $620 first.

  • Right now, BNB’s price action is no longer just a pause—it is a direct support test.
  • High-timeframe setups require patience. The coming weekly closes will help determine whether this move turns into
  • A confirmed breakdown with extended consolidation, or
  • A classic deviation that restores bullish momentum.

For now, the broader structure remains under pressure but not fully broken. A decisive move back above $620 would quickly improve sentiment, while continued weakness could shift focus toward a longer consolidation phase before any meaningful upside move resumes.

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