BNB price is up more than 1.7% in the past 24 hours amid a cryptocurrency market surge that saw the broader CoinDesk 20 (CD20) index rise 2.2% in the same period.
The price broke through the $860 resistance level that had limited the recent rallies and briefly touched $868 before seeing a slight pullback.
BNB underperformed the broader cryptocurrency market at a time when the Financial Times published an investigation that said Binance “failed to prevent hundreds of millions of dollars in cryptocurrency from flowing through suspicious accounts.” These failures, he says, came even after he agreed to pay $4.3 billion to settle a criminal case in the United States.
Trading volume jumped 192% above the daily average, according to CoinDesk Research’s technical analysis data model, and several spikes were seen as the price approached support levels.
Three separate bursts of volume above confirmed the momentum behind the move and helped establish new support around $856-$858.
The hourly chart revealed a V-shaped recovery after an initial drop to $851, with buyers aggressively stepping in and pushing prices back above $863. From there, an ascending triangle formed between $864.00 and $865.80, a pattern often linked to a bullish continuation.
BNB remains 32% below its all-time high of $1,360. Other exchange tokens, KCS and LEO, are down much less than their all-time highs, showing resilient performance according to CryptoQuant data.
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.
