BNB attempted to stabilize on Thursday after a sharp intraday reversal pushed the token back under key levels, leaving traders focused on whether emerging bearish patterns could drive deeper losses.

BNB, the native asset of the BNB Chain, slipped below $960 over the past 24 hours after failing to hold gains above $970. The token briefly touched $970.03 before sellers overwhelmed the market, sparking a surge in trading activity. According to CoinDesk Research’s technical analysis model, the spike in volume suggested that large sell orders triggered a sequence of liquidations, sending BNB down to an intraday low of $942.06 before it staged a mild rebound.

The move has left BNB stuck in a tight range, with bulls attempting to anchor the price between $950 and $960. Despite the stabilization attempt, the token continues to hover near the lower end of its daily range, underscoring cautious sentiment and a reluctance among buyers to commit at higher levels.

“BNB’s break below $970 highlights a change in order-flow behavior rather than simple volatility,” said Alex Borutski, co-founder of iMe AI Messenger and Wallet, in comments to CoinDesk. “With liquidity clustered below $950, downward pressure remains the dominant force.”

BNB now sits between a well-defined resistance zone around $970 and short-term support at roughly $942. Borutski noted that a head-and-shoulders formation is emerging on lower timeframes — a common technical pattern that often precedes further downside if confirmed. Multiple analysts across social platforms echoed the same observation, citing continued bearish pressure in the short term.

Whether BNB can reclaim and hold levels above $970, or instead break decisively below support toward the $900 region, could determine the token’s next major trend. For now, BNB’s weakness mirrors broader market activity, with the CoinDesk 20 (CD20) index declining 1.6% over the same period.