BNB’s impressive 24-hour rally shows the growing strength of the Binance Ecosystem in the midst of wider crypto market optimism.
The token’s upward momentum coincides with Bitcoin’s approach to new all-time highs and increased activity across the BNB chain, which recently recorded over 8 million daily transactions and 2 million active drawing addresses.
Technical indicators remain Bullish for BNB, with strong support established for $ 682 and more tests at this level showing sustained buyer interest despite less resistance around $ 684, according to Coindesk Research’s technical analysis data model.
Technical analysis highlights
- Price action formed a clear increase with significant volume tips at 15:00 and 16:00 hours on May 21 (183k and 186k).
- Strong volume support established around $ 663- $ 670 zone.
- The asset encountered resistance near $ 689.35 within 03:00 hours on May 22 before a minor withdrawal.
- Support is maintained at $ 679.08, which suggests continuing Bullish Momentum.
- Remarkable volatility in the last hour with a significant price increase between 07: 35-07: 37, climbing from $ 680.85 to $ 683.78 (0.43% increase).
- More tests of $ 682.00 level showing buyer interest, with resistance around $ 683.90.
- Volume peaked during the period 07:37 with over 7,190 units traded, confirming the strength of upward movement.
- Ending Minutt showed consolidation around $ 682.28, which suggests temporary equilibrium after fleeting trade.
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