Binance price eyes $615 fibonacci support as oversold conditions build

Binance’s price is approaching the $615 support zone as oversold conditions intensify, placing it at a critical technical inflection point.

Binance (BNB) price has entered a sharp corrective phase following its recent swing high, with bearish momentum accelerating across multiple timeframes. After failing to sustain upside continuation, price has rotated lower in an impulsive fashion, signaling a clear shift in short- to medium-term market structure.

As BNB continues to unwind recent gains, attention is now turning toward a key high-timeframe support region near $615, where technical confluence suggests this level may play a decisive role in determining the next directional move.

Binance price key technical points

• $615 marks a major confluence support zone, aligning with the 0.618 Fibonacci retracement and VWAP support
• High-timeframe resistance at $932 remains intact, reinforcing the broader corrective structure
• Oversold conditions increase the probability of a relief bounce, provided structural support holds

The current corrective move began after Binance Coin established a new high at a time-frame resistance near $932.

This level acted as a decisive rejection point, where bullish momentum stalled and sellers regained control.

The failure to reclaim acceptance above this resistance confirmed a structural low and initiated the current impulsive move to the downside.

Since that rejection, price action has remained consistently bearish, with lower highs and expanding downside candles reflecting aggressive selling pressure. This behavior suggests that the move lower is not merely a shallow pullback, but a broader corrective rotation within the prevailing market cycle.

$615 support zone comes into focus

As price continues to decline, the $615 region has emerged as the most important technical level in the near term.

This zone represents a high-confluence area where multiple technical factors align, including the 0.618 Fibonacci retracement of the broader move and VWAP-based support.

Additionally, this region sits above the previous range value area high, strengthening its relevance as a structural support level.

Historically, when price revisits such confluence zones after an impulsive move, the market often pauses to reassess value. If buyers step in to defend this area, it increases the likelihood that prices will stabilize and form a base for a corrective rebound.

Oversold conditions signal potential exhaustion

Momentum indicators are now beginning to reflect oversold conditions following the extensive selling seen over recent days and weeks. While bearish trends can persist longer than expected, oversold readings often signal that downside momentum may be nearing exhaustion, especially when price approaches major support.

Importantly, oversold conditions alone do not confirm a reversal. However, when combined with strong structural support, they increase the probability of at least a short-term relief bounce. Any such bounce would likely be corrective in nature unless accompanied by a clear reclaim of higher resistance levels.

What to expect in the coming price action

From a technical, price action, and market structure perspective, the $615 region represents a critical make-or-break level for Binance Coin. A successful defense of this support could allow BNB to establish a higher low and trigger a rotation back toward higher price targets. Conversely, failure to hold this zone would expose the market to deeper corrective levels and extend the bearish structure.

Until confirmation emerges, traders should closely monitor volume behavior and price reaction around support. A strong bullish response would signal improving demand, while continued weakness would reinforce downside risk. For now, all eyes remain on $615 as the market approaches a pivotal moment in Binance Coin’s corrective cycle.