BNB is showing a decline in the market by dropping below $865.

BNB's Decline and Market Effects

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

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

A recovery above the $874 level could lead to a change in momentum. On the other hand, a deeper retreat may extend down to $839, which is the next technical support level. Additionally, network activities are expected to pause ahead of an upcoming update.