$BNB I've been watching BNB literally struggle against the $800 mark for several days. Yesterday, October 5, the price broke above that level for the first time in eight months, but today it has already pulled back to $777, down 1.13%.
I used to think of these “psychological” levels as something secondary—just a round number. But after taking a closer look at this week's market structure, I saw a concrete mechanism behind the pullback: after briefly breaking above $800, spot buyers couldn't sustain the momentum, profit-taking began, and leveraged positions started unwinding—a classic technical rejection of the level, not a coincidence.
Meanwhile, BNB's 37th quarterly token burn is approaching. The date hasn't been officially confirmed yet, but historically it takes place in mid-October. The burn formula is based on the price of BNB and the number of blocks produced during the quarter, meaning that anticipation of the burn is already partly “priced in,” and the event doesn't always trigger the sharp move people expect.
If BNB holds support at $758, and then $720, the most likely scenario looks like sideways trading between $750 and $800 right up until the burn. A breakout and close above $800 would open the way to $930–945 before we start talking about $1,000.
I still haven't decided whether to enter a position before the official burn date 🤔
$BNB #BNBChain
I used to think of these “psychological” levels as something secondary—just a round number. But after taking a closer look at this week's market structure, I saw a concrete mechanism behind the pullback: after briefly breaking above $800, spot buyers couldn't sustain the momentum, profit-taking began, and leveraged positions started unwinding—a classic technical rejection of the level, not a coincidence.
Meanwhile, BNB's 37th quarterly token burn is approaching. The date hasn't been officially confirmed yet, but historically it takes place in mid-October. The burn formula is based on the price of BNB and the number of blocks produced during the quarter, meaning that anticipation of the burn is already partly “priced in,” and the event doesn't always trigger the sharp move people expect.
If BNB holds support at $758, and then $720, the most likely scenario looks like sideways trading between $750 and $800 right up until the burn. A breakout and close above $800 would open the way to $930–945 before we start talking about $1,000.
I still haven't decided whether to enter a position before the official burn date 🤔
$BNB #BNBChain
