BNB’s price has increased by over 1.7% in the last 24 hours, aligning with a broader rise in the cryptocurrency market where the CoinDesk 20 (CD20) index gained 2.2% during the same timeframe.
The price exceeded the $860 resistance threshold that had previously restrained rallies, briefly reaching $868 before experiencing a minor correction.
In contrast to the broader cryptocurrency market, BNB trailed behind as an investigation by the Financial Times reported that Binance “failed to prevent hundreds of millions of dollars of cryptocurrency from flowing through suspicious accounts.” This occurred despite the company’s agreement to pay $4.3 billion to resolve a U.S. criminal case.
According to CoinDesk Research’s technical analysis data model, trading volume surged 192% above daily averages, with notable peaks as the price approached key support levels.
Three distinct spikes in volume confirmed momentum behind the price movement and helped establish new support within the range of $856–$858.
The hourly chart displayed a V-shaped recovery following a dip to $851, with buyers stepping in vigorously, driving prices back above $863. Subsequently, an ascending triangle pattern developed between $864.00 and $865.80, often associated with bullish continuation.
BNB is currently 32% lower than its all-time high of $1,360. In contrast, other exchange tokens, KCS and LEO, have experienced far less decline from their peak values, indicating resilience according to CryptoQuant data.
Disclaimer: Parts of this article were generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI Policy.
