BNB’s price slipped nearly 1.5% in unstable trade in the last 24-hour period to trade recently about $ 765. It’s down from a nearly $ 780 high earlier this week.
The move cut out a range of $ 34.87 in a short window when institutional sales hit the market and buyers shrinked to defend key support. Trade volume spilled to nearly 12,000 symbols over a single hour and pointed to a wave of liquidation near the $ 760 psychological level, according to Coindesk Research’s technical analysis model.
Token’s weak performance SO SOLANA SOL (SOL) surpass BNB’s market value after increase of 3.5% in the last day. Sol now has a market capital of $ 109.3 billion compared to BNBs $ 106.6 billion.
Dealers who see that the $ 770 resistance zone saw rejection lights from early in today’s trade session often a sign that large market participants are reading positions. In response, Bulls staged a $ 745.75 defense, led to a short -term recovery.
In BNB-related news, Binance announced a temporary break in the BNB Smart Chain Reports on July 23 for the maintenance of wallet, which is expected to last half an hour. Meanwhile, blockchain -infrastructure company Nano Labs said it increased its BNB holdings to 120,000 tokens, valued at about $ 90 million.
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