BNB is showing that the market has declined by falling below $865.

BNB's Decline and Market Effects

BNB declined by 2.7% to $865 following the Federal Reserve's 25 basis point interest rate cut. This situation led to a drop below the important support level of $870, causing the token to trade below its 30-day moving average.

Currently, BNB is trading within a narrow range where buyers are attempting to maintain the $864 - $867 range, while sellers are capping gains around $868.50. It seems that investors are adopting a cautious stance.

A recovery above the $874 level could lead to a shift in momentum. On the other hand, a deeper decline could potentially reach the $839 level, which is the next technical support level. Additionally, network activity is expected to pause ahead of an update.