The price of BNB is hovering around the $850 mark after losing more than 1.5% of its value over the past 24 hours.
The token has fallen from a recent high near the $870 level, coinciding with bitcoin’s drop from over $90,000 to the $87,000 range on Tuesday morning.
Price action reflected this caution. After a brief push above $860 on strong volume earlier, selling pressure returned and limited gains. The broader market is nevertheless also affected, with the broader CoinDesk 20 (CD20) index losing 2.5% of its value over the past 24 hours.
Volume increases pointed to defensive positioning rather than new risk-taking, according to CoinDesk Research’s technical analysis data model.
Not all signals were negative as adoption continued to grow. Large prediction market Kalshi added deposits and withdrawals for BNB and stablecoins on the BNB chain.
For now, traders see consolidation between $850 and $870. A clear break above this range could reopen calls for a move towards $900 later in the year, while a drop below $820 would suggest deeper losses.
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.
