BNB Plunges to New Yearly Low: Will it Find Support at $500?

Binance Coin's price has been on a downward trend since last October, when it peaked at around $1400. The altcoin has shed 60% of its value and recently printed a new yearly low of $540.

This latest drop brings the realized cap, or the average price of most holders, to $543 - a key price floor from an on-chain perspective. Technical charts suggest that BNB's pullback is headed towards a zone marked by the 2022 market bottom.

The weekly charts indicate that BNB is close to the 200-weekly moving average (WMA) and the red zone, similar to its position in 2022 when it dumped below $200. If this trend repeats, a potential bottom could be marked around $500.

The on-chain data supports this technical analysis, as the realized price has consistently acted as support since 2026. The area above $500 appears to be a key interest zone for long-term buyers seeking a discounted bargain, especially if past patterns repeat.