BNBUSD (Binance) found a peak back on March 16 and has since dropped more than $80. The corrective rally into the blue box unfolded with a clear three-wave structure, consistent with Elliott Wave corrective patterns. Rejection occurred between 100 – 161.8% Fibonacci extension levels of first leg up from February 6 low projected higher from the secondary low seen on February 24 and thus it was a high‑probability area for sellers to step in. Let’s take a look at the Elliott wave charts from before and after this reaction
BNB (Binance) 4 Hour Elliott Wave Analysis 26 February, 2026
The chart shows that a cycle ended back in February 2026, after which the cryptocurrency began a corrective bounce. The structure of this bounce appears to be unfolding as a double three pattern, suggesting that one more leg higher is still needed before the corrective cycle completes. The area between $673.3 and $732.2 has been highlighted as the blue box zone, which represents the 100–123.6% Fibonacci extension of the corrective sequence. This zone is critical because while below $732.2, bounce remains to be in 3 waves and hence making it a high‑probability area for sellers to re‑emerge. Once price reaches this cluster, we expect either a resumption of the decline or, at minimum, a three‑wave reaction lower.
BNB (Binance) 4 Hour Elliott Wave Analysis 26 March 2026
Chart below shows cryptocurrency made a push higher into the mentioned area and found a peak at $686.99 on March 16. It then started dropping and already reached 50% Fibonacci retracement ($631.28) of the rally from February 24 low allowing sellers from $673.3 to take partial profits and move stop loss on remaining position above March 16 peak to eliminate risk on the trade. After trading below $600, it is currently trading at $612.75 and showing a short-term incomplete sequence against March 25 peak. While below March 25 and more importantly below March 16 highs, we expect the decline to continue.
The rejection from the blue box suggests that the larger bearish sequence remains intact, and the market respected the blue box extreme area. Only a break above March 16 high will open up more upside toward $713 – $784 area.
Source: https://elliottwave-forecast.com/cryptos/binance-bnbusd-selling-from-blue-box-area/