BNB fell almost 2% over the last 24 hours when crypto traders rushed to lock the profits, with the token fell to trade about $ 680 mark after a short touch of $ 700.
Slide mirrors wider market souls after Bitcoin
rose to a record over $ 120,000, led to a wave of profits that brought cryptocurrency back to $ 116,000 at the time of writing.
The earning trend also comes at a time when inflation grew to 2.7% in June, measured by the consumer price index. It is up from an annual increase of 2.4% in May, according to Bureau of Labor Statistics
For hours, BNB swung within a narrow $ 23 corridor and jumped between $ 698.72 and $ 675.47, according to Coindesk Research’s technical analysis model. Buyers showed up near $ 675 and helped dampen the slide with a burst of volume that exceeds 134,000 tokens shopping when prices hit the session low. BNB has since itching some reason back.
Technical signals remain mixed. A downturn persists, uncovered by resistance to $ 690 to $ 695, a zone where previous support has turned to sales pressure.
Nevertheless, waves suggest trading activity by possible accumulation, as seen in a short increase of over 1,600 tokens traded in a four -minute window. Different companies have actually moved to adopt a BNB Treasury Reserve.
The volatility comes as BNB celebrates its eighth anniversary, a milestone that emphasizes his journey. It has also recently undergone a token burn of $ 1 billion.
BNB also benefits from the BNB chain, which joins the Ondo Global Markets Alliance to bring tokenized securities that include US stocks, ETFs and funds for its network.
Whether BNB can break over the resistance or sink lower if profits continue can shape the mood of the wider crypto market in the coming days.
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.
