BNB was trading near $742 on Oct. 9, down about 4.8% over the latest three-day candle after failing to sustain its recovery toward $800.

The pullback comes as BNB approaches the upper boundary of a broadening wedge, a technical structure characterized by two diverging trendlines connecting progressively higher highs and lower lows.

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BNB's three-day price chart tracking the broadening wedge pattern

BNB’s three-day price chart tracking the broadening wedge pattern. Source: TradingView

The pattern has developed since early 2026, with its upper boundary currently acting as resistance near $830–$850 and its lower trendline extending toward the $500–$540 region.

BNB’s latest rejection near $800 increases the possibility of a reversal toward the wedge’s lower boundary.

The downside target coincides with the 0 Fibonacci retracement level near $539.33, reinforcing the region as a potential support confluence.

However, sellers must first push BNB below the 0.236 Fibonacci level at $734.37 to strengthen the bearish outlook.

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A decisive breakdown could accelerate selling toward the cluster of exponential moving averages between $685 and $725, followed by the $600 psychological support level.

Meanwhile, the relative strength index (RSI) has retreated from near-overbought territory, suggesting bullish momentum is weakening.

Conversely, a sustained rebound above $800, followed by a breakout past the wedge’s upper trendline, would weaken the immediate bearish scenario and put the 0.382 Fibonacci level near $855 in focus.