BNB rose to $908 over the last 24-hour period, up 1.44% for the period, as an increase in trading volume suggests that large investors may be accumulating the token in a consolidation phase.
Volume surged 68% above average, peaking at 86,436 tokens in a single hour as BNB tested a key resistance cluster between $920 and $928, according to CoinDesk Research’s technical analysis data model.
The token retreated slightly to $903, but held above its recent low near $896, forming a sideways trading range. This pattern often signals that buyers are preparing for a major move.
The rise comes amid a broader rally in the crypto market, with major assets such as bitcoin and ether showing gains of 0.5% to 3.5% following positive signals from traditional finance, including looser monetary policy expectations as the Federal Reserve is now widely expected to cut interest rates this month.
BNB’s activity coincides with developments in the BNB chain, including increased volume in the chain and the launch of new tools such as predict.fun, a prediction market app linked to the Binance ecosystem.
Despite recent volatility, these projects aim to increase the utility of the chain, which continues to attract speculative and long-term interest.
Traders are now watching the $920-$928 range closely. A break above this zone could push BNB towards $940 or even $1,000, although a drop below $903 could test support near $896.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial staff to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI policy.
