The cryptocurrency market seems to have no recovery in sight just yet. Binance’s BNB coin’s price has also not been spared from the ongoing market crash. BNB’s price briefly fell to $901.33 earlier today, following Bitcoin’s (BTC) dip to the $99,000 price level. BNB has since reclaimed the $948 price point, rallying 0.6% in the last 24 hours. Despite the slight recovery, BNB continues to trade in the red zone in most other time frames. According to CoinGecko data, BNB is down 15.4% in the weekly charts, 11.4% in the 14-day charts, and 20.5% over the previous month. Let’s discuss if the popular cryptocurrency will dip to $840 next.
Will Binance Coin’s Price Crash Continue to $840?
Binance’s BNB coin has some support around the $950 price level. If the asset fails to maintain this support level, its price could dip to around $840. However, the asset’s RSI (Relative Strength Index) suggests that it is nearing undervalued levels. Low RSI levels could bring some relief to investors as they may lead to more inflows.
The current market predicament is likely due to a host of developments. The US is undergoing its longest government shutdown in history. The government shutdown has likely led to a rise in investor worry. Moreover, despite announcing an interest rate cut, Federal Reserve Chair Jerome Powell delivered a cautionary speech after the Fed’s October meeting. Powell hinted that further rate cuts may not be on the table, as rising inflation and slow economic growth may present challenges.
Binance’s BNB coin has had an incredible year in 2025. The asset breached the $1000 mark for the first time in its history, hitting an all-time high of $1,369.99 in October. However, recent events have led to BNB falling by more than 30% from its October peak.
Also Read: Will Binance Coin Surge? BNB Price Prediction for November
CoinCodex analysts are positive about BNB’s performance over the next few weeks. The platform anticipates the asset to reclaim the $1000 price level, hitting $1026 on Nov. 30.
