BNB ABC Pattern Predicts $780 to $712 $663 Support Drop

BNB is undergoing a potential ABC corrective pattern following a five-wave bullish impulse, with technical analysts forecasting a pullback from current levels near $780 to key support zones at $712 and $663. As of July 24, 2025, the cryptocurrency has retracted from a recent peak of $804.85, trading at $780.93, and is forming a flat correction structure on the 1-hour chart. Analyst BigMike, referencing Elliott Wave Theory, outlined the wave dynamics on platform X, indicating a completed (1)-(5) impulse phase now transitioning into a three-wave corrective phase [1]. The price has retraced to the 0.618 Fibonacci level, with immediate support near $745, where the initial leg (a) of the correction found a floor [2].

The correction began with a sharp decline to $744.96 in wave (a), followed by a partial recovery to $780 in wave (b). However, momentum has weakened, with oscillators like the Stochastic RSI and RSI showing oversold conditions during the bounce but failing to sustain upward momentum. Volume analysis further supports bearish sentiment, as the rebound in wave (b) occurred on weaker volume compared to the sharp sell-off in wave (a). Analysts warn that if the (b) wave fails to break above $765—a critical resistance level near the 0.618 Fibonacci retracement—the (c) leg could target $712 and $663 using 1.618 and 2.618 extensions [3].

The projected (c) wave’s validity hinges on whether price remains below $765. A breakdown below $744 would confirm the continuation of the correction, while a sustained move above $800 would invalidate the ABC structure and trigger a reevaluation of the chart pattern. Ichimoku Cloud and moving average indicators also show tightening bands, signaling potential volatility. Traders are monitoring the $744 support level, which has already acted as a floor for wave (a), and the deeper Fibonacci zones at $712 and $663 as key targets for a bearish scenario.

BigMike’s analysis emphasizes that the next few hourly candles will be critical in determining whether BNB completes the flat correction or reverses into a new impulse wave. A failure to reclaim $800 could accelerate the descent toward $663, with Fibonacci extensions providing precision for downside projections. The current structure aligns with traditional Elliott Wave principles, but outcomes remain contingent on volume and price action near key thresholds.

Source: [1] [title: BNB ABC Pattern Forecasts Pullback From $780 to $712 and $663 Support] [url: https://cryptonewsland.com/bnb-abc-forecasts-from-780-to-712-and-663/] [2] [title: BNB ABC Pattern Forecasts Pullback From $780 to $712 and $663 Support] [url: https://cryptonewsland.com/bnb-abc-forecasts-from-780-to-712-and-663/] [3] [title: BNB ABC Pattern Forecasts Pullback From $780 to $712 and $663 Support] [url: https://cryptonewsland.com/bnb-abc-forecasts-from-780-to-712-and-663/]