BNB, the token that drives the BNB chain and can be used for fees on the leading crypto exchange binance, more than 2% fell over the past 24 hours in the midst of a wider cryptocurrency decrease.
The sentiment in the industry remains bad, with Crypto Fear and Greed Index now at 41, a neutral level close to hitting fear, while the average crypto -Relative strength index (RSI), a technical indicator, points to oversold levels according to CoinMarketcap.
The token slipped from $ 1,025 to just under $ 1,000 when sellers took control and resistance built near $ 1,035, according to Coindesk Research’s technical analysis data model. The wider Coindesk 20 (CD20) index fell 3.7%.
BNB chain -Validators have made a proposal to reduce gas fees from 0.1 to 0.05 GWEI. The change would fall average transaction costs to about $ 0.005 and speed up block speeds from 750 milliseconds to 450 milliseconds.
The proposal comes at a time when trading activity on the chain is flourishing on the BNB chain following the launch of decentralized trading platform Aster, which recently overtook Hyperliquid in daily eternal trading volumes.
Overview of Technical Analysis
BNB acted within a range of $ 49 during the last 24-hour period and dropped to $ 993. Strong resistance formed just over $ 1,030 while the support held about $ 987.
The price was short -lived and ticking up from just under $ 990 to nearly $ 994. The win came when the purchase demand appeared and pressed the token to form higher low.
Trade volume suggested a shift from aggressive sales to slower accumulation with support that consolidated near $ 989 and resistance emerged just under $ 996.
Disclaimer: Parts of this article were generated with the help 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.
