BNB rose to $908 over the last 24-hour period, an increase of 1.44% over the period, as an increase in trading volume suggests that large investors may be accumulating the token during a consolidation phase.
Volume surged 68% above average, hitting a single-hour high of 86,436 tokens, as BNB tested a key resistance group between $920 and $928, according to CoinDesk Research’s technical analysis data model.
The token retreated slightly to $903, but remained above its recent lows near $896, forming a sideways trading range. This pattern often indicates that buyers are preparing for a bigger move.
The rally comes amid a broader cryptocurrency market rally, where major assets such as bitcoin and ether posted gains of 0.5% to 3.5% following positive signs from traditional finance, including expectations for looser monetary policy as the Federal Reserve is now widely expected to cut interest rates this month.
The BNB activity coincides with developments on the BNB chain, including increased on-chain volume and the launch of new tools such as predict.fun, a prediction market app linked to the Binance ecosystem.
Despite recent volatility, these projects aim to increase the utility of the chain, which continues to attract speculative and long-term interest.
Traders are now closely watching the $920-$928 range. A break above this zone could push BNB towards $940 or even $1,000, although a drop below $903 could test support near $896.
Disclaimer: Portions of this article were generated with the help of artificial intelligence tools and were reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI Policy.
