BNB reached $908 in the last 24 hours, up 1.44% over the period, as an increase in trading volume suggests large investors may be accumulating the token during a consolidation phase.
Volume soared 68% above average, peaking at 86,436 tokens in a single hour, as BNB tested a key resistance group between $920 and $928, according to CoinDesk Research’s technical analysis data model.
The token pulled back slightly to $903, but held above its recent lows near $896, forming a sideways trading range. This trend often indicates that buyers are preparing for a larger move.
The rise comes amid a broader rebound in the crypto market, where major assets like bitcoin and ether posted gains of 0.5% to 3.5% following positive signals from traditional finance, including looser monetary policy expectations as the Federal Reserve is now expected to cut interest rates this month.
BNB activity coincides with developments on the BNB chain, including increasing on-chain volume and the launch of new tools like predict.fun, a prediction market app linked to the Binance ecosystem.
Despite the recent volatility, these projects aim to increase the utility of the chain, which continues to attract speculative and longer-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 decline below $903 could test support near $896.
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.
