The price of BNB rose more than 1.7% in the past 24 hours amid a rally in the cryptocurrency market that saw the broader CoinDesk 20 Index (CD20) rise 2.2% over the same period.
The price broke above the $860 resistance level that had capped recent rallies and briefly touched $868 before seeing a slight pullback.
BNB has underperformed the broader cryptocurrency market at a time when the Financial Times published an investigation claiming that Binance “failed to prevent hundreds of millions of dollars of cryptocurrency from circulating through suspicious accounts.” These failures, he says, came even after he agreed to pay $4.3 billion to settle a U.S. criminal case.
Trading volume surged 192% above the daily average, according to CoinDesk Research’s technical analysis data model, with several spikes seen as the price approached support levels.
Three separate surges in volume above confirmed the momentum behind the move and helped establish new support around $856 to $858.
The hourly chart revealed a V-shaped recovery from an early decline to $851 as buyers stepped in aggressively and pushed prices above $863. From there, an ascending triangle formed between $864.00 and $865.80, a trend 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 from their all-time highs, showing resilient performance according to CryptoQuant data.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team for accuracy and compliance with our standards. For more information, see CoinDesk’s full AI policy.
