BNB ABC Pattern Forecasts Pullback From $780 to $712 and $663 Support

BNB shows a completed five-wave impulse, which now turns to a corrective flat near the $780 range

Support is seen at $744, and below that, Fibonacci levels at $712 and $663 may act as key downside zones

Momentum is cooling, and weak volume on the rebound suggests bears may regain control below the $765 area

BNB is showing signs of forming a flat correction pattern on the 1-hour chart, as observed on July 24, 2025. The cryptocurrency, trading at $780.93 at press time, has pulled back from a recent swing high near $800. A technical chart posted by analyst BigMike on platform X points to a potential ABC corrective structure developing.

The price retraced from the local high of $804.85 and is now hovering below the 0.618 Fibonacci retracement level. Support appears near the $745 zone, where the wave (a) low was recorded. If the current (b) wave fails to break higher, a projected (c) wave could drop toward $713 or even $663.

The wave structure shown uses Elliott Wave Theory, indicating a completed five-wave impulse labeled (1)-(5), now followed by a three-wave correction.

Flat Formation Appears After Strong Five-Wave Advance

The visible price pattern starts with a bullish advance from the $640 zone, forming five distinct waves up to the recent $804 peak. The structure labeled (1) through (5) on the chart suggests a completed motive wave. This sets the stage for a corrective pullback under traditional wave-counting principles.

The ABC correction began with a sharp dip to $744.96, marked as wave (a). A short recovery to around $780 reflects the potential (b) wave. The projected (c) leg points to possible price levels near $712 and further down to $663 using 1.618 and 2.618 Fibonacci extensions.

Two oscillators are displayed below the chart: the Stochastic RSI and a basic RSI with moving averages. Both indicators show recent oversold conditions, supporting the bounce seen during wave (b). However, the upside may be limited, as momentum weakens near the mid-range.

Traders Track $765 Resistance While Watching $744 Support

A critical level sits near the 0.618 Fibonacci retracement at $765, which price has tested without a strong breakout. This resistance marks the ceiling for the corrective (b) wave. If price rejects this zone, the next phase may drive BNB lower into the projected (c) territory.

Support around $744 has already acted as the floor for wave (a) and may offer a temporary pause if price slides. Beneath this level, the 1.618 Fibonacci extension around $712 could be the next area of interest for traders. The 2.618 extension near $663 marks the final target in a deep correction scenario.

The Ichimoku Cloud and moving average envelopes show narrowing distance, often a sign of contraction or upcoming volatility. Volume during the drop in wave (a) spiked, while recovery volume during (b) appears lighter. This imbalance may suggest sellers remain in control.

Will BNB Complete the Flat Correction or Reverse Early?

With the price failing to clear $800 and now sitting near $781, the market may be entering a critical decision zone.

The chart’s projected path shows a potential ABC flat forming with a downward (c) wave pending. If the (b) wave is complete, the market could break down toward the $712 or $663 range. These Fibonacci zones offer precision targets for downside structure.

The next few hourly candles may confirm whether BNB continues the flat pattern or invalidates the count with a sharp move up. A new high above wave (v) would break the flat expectation and reset the structure. Until then, focus remains on whether the correction finds a floor or accelerates downward.