BNB Slides Below $860 Amid Market Pressure, U.S. Jobs Data Awaited

BNB has been trading near the $850-$860 range amid a mix of bullish and bearish signals as traders await key U.S. jobs data that could influence Federal Reserve interest rate decisions. Despite recent price volatility and a 4% weekly decline partly due to profit-taking and a temporary pause on Binance contract transfers, BNB maintains critical support around $840-$850, with analysts pointing to potential breakouts toward $900 and beyond if buying momentum sustains. Technical indicators show neutral momentum with bearish near-term signals, while volume spikes near support levels suggest strong buying interest. The broader crypto market's influence, particularly Bitcoin's recent weakness, has led investors to rotate into altcoins like BNB, adding complexity to price movements. Additionally, institutional interest is growing, with treasury firms planning significant BNB holdings backed by Binance's leadership, although transaction volumes have declined since June. Overall, market watchers remain cautious but note that a rebound above $900 could signal renewed bullish control for BNB.