The price of BNB rose over 1.7% in the past 24 hours amid a rally in the cryptocurrency market that saw the broader CoinDesk 20 (CD20) index rise 2.2% over the same period.
The price broke past the $860 resistance level that had capped recent rallies and briefly touched $868 before seeing a small pullback.
BNB underperformed the broader cryptocurrency market at a time when the Financial Times published an investigation that said Binance “couldn’t stop hundreds of millions of dollars of cryptocurrency flowing through suspicious accounts.” Those failures, it says, came even after it agreed to pay $4.3 billion to settle a U.S. criminal case.
Trading volume jumped 192% above the daily average, according to CoinDesk Research’s technical analysis data model, with multiple peaks seen as price neared support levels.
Three separate bursts of volume above confirmed the momentum behind the move and helped establish new support around $856-$858.
The hourly chart revealed a V-shaped recovery after an early dip to $851, with buyers stepping in aggressively and pushing prices back above $863. From there, an ascending triangle formed between $864.00 and $865.80, a pattern often associated with bullish continuation.
BNB remains 32% below the all-time high of $1,360. Other exchange tokens, KCS and LEO, have fallen far less from their record highs, showing robust performance according to CryptoQuant data.
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.
