BNB News Today: BNB Dips After Strong Rally and ATH, FOMC Meeting Looms

Key Takeaways:BNB falls 1.22% to $920.45 amid profit-taking and technical resistanceBNB registered an all-time high of $944 on September 14FOMC rate cut speculation could fuel further volatilityBNB has dropped 1.22% in the past 24 hours, as profit-taking pressures weigh on its price. This pullback comes after a strong 40% rally over the last three months, with traders cashing in on the recent all-time high of $944. The upcoming FOMC meeting is adding further uncertainty to the market, leaving traders cautious.Profit-Taking After 90-Day RallyBNB's surge of 40% over the past three months came to a halt as traders locked in profits. The cryptocurrency reached a recent high of $944, but a cooling Relative Strength Index (RSI) from 76 to 67 signals a reduction in buying momentum.  The $896 Fibonacci 38.2% support level will be critical to watch. If it holds, BNB could stabilize and find support.Macroeconomic Factor: FOMC Meeting, Fed Rate CutThe Federal Reserve's upcoming FOMC meeting, scheduled for September 16–17, could significantly affect BNB and the broader crypto market. Futures markets currently price in a 93% chance of a 25 basis point rate cut, which could create favorable liquidity conditions for risk assets like BNB. If the Fed acts dovishly, a relief rally could boost prices across the crypto market.Outlook for BNB: What to WatchAs the FOMC meeting unfolds, the either hawkish or dovish stance of the Fed will likely influence BNB’s price trajectory. Traders will also need to monitor derivative funding rates and short positioning as potential signs of volatility.