BNB broke through a closely watched resistance zone over the past 24-hour period, rising 2% to surpass $920 amid a broader cryptocurrency market rally that saw the broader CoinDesk 20 Index (CD20) rise 5.3%.
The rally comes ahead of the Fermi hard fork, which is currently scheduled for January 14. The update will reduce blocking times from 750 milliseconds to 450 milliseconds and improve the way the network processes transactions.
It aims to increase BNB Chain’s capacity to 20,000 transactions per second, making it a stronger competitor for developers working on high-speed decentralized applications in areas such as finance and artificial intelligence.
On the technical side, BNB reached an intraday high of $921.47 before stabilizing. Trading volume increased, indicating renewed interest as the price broke through the resistance range of $906 to $910. BNB now sits just below the next breakout target at $928, and bulls are targeting a move towards $1,066 if the momentum is maintained.
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