🔸 BNB price slips below $620 golden pocket, now testing long-term support near $609

BNB price is now trading around $609, slipping below the previously defended $620 golden pocket level and putting long-term support to the test.

Binance ($BNB ) is once again at a critical inflection point after losing the $620 region that had been acting as a high-timeframe support cluster. Following weeks of corrective pressure, price briefly stabilized at the 0.618 Fibonacci retracement before slipping modestly lower, now hovering near $609.

This move shifts the technical narrative slightly: rather than cleanly holding support, BNB is now probing the lower bounds of a major confluence zone. Whether this becomes a deviation below support or the start of deeper consolidation will likely define the next multi-week trend.

The $620 level continues to carry heavy technical weight. It marks the 0.618 Fibonacci retracement of the broader advance — often referred to as the “golden pocket,” a zone that frequently acts as a high-probability reversal area.

However, with BNB now trading below that level, the focus shifts to whether this is a temporary liquidity sweep or a more meaningful breakdown.

Importantly, price remains near the 200-week moving average — a widely followed macro trend indicator. Historically, sustained closes below this level tend to invite extended consolidation, while swift recoveries often signal a false breakdown.

🔸 Market structure supports a potential bottom

From a broader market structure perspective, the chart has not yet confirmed a full trend reversal. While the loss of $620 weakens the immediate bullish structure, BNB has not decisively broken down into lower macro territory.

This type of price action — slipping below support before reclaiming it — is common during bottoming formations. Markets often sweep liquidity below obvious levels before rotating higher.

If buyers step in and push price back above $620 with conviction and expanding volume, the move could be classified as a deviation.

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