BNB climbed more than 4% in the last 24-hour period on a wider cryptocurrency-market rally to violate the $ 850 mark and near its highest high at $ 860.
The token rose from $ 813.90 to its high during the session and broke through key resistance points to $ 839.57 and $ 853.67 before meeting the sales pressure near the $ 855 psychological level, according to Coindesk Research’s technical analysis model.
Rally gained momentum after CEA Industries acquired 200,000 BNB and became the largest business owner of the asset. The move is part of a growing trend for companies that add alternative cryptocurrencies to their reserves.
Trade volume spiked to almost three times its daily average, which burned optimism that institutional purchases could maintain upward momentum. However, prices withdrew a little in the last part of the session, which suggests possible short -term consolidation.
Overview of Technical Analysis
Market data showed strong purchase interest through the rally, where powerful trade activity established solid support near $ 834.40. BNB’s Advance cleared resistance to $ 839.57 and $ 853.67, and prices that were held over $ 850 most of the period remained a sign that accumulation remained in play even when momentum began to cool off.
Rally’s Peak coincided with an increase in sales orders that suggested profit tags that slowed down the push over $ 855. This sales pressure created a bearish divergence against the closure where the token could not regain higher soil.
The wider crypto market, measured by Coindesk 20 (CD20) Index, 5.3% increased in the last 24-hour period. BNB has remained the dominant token in the exchange token sector, according to cryptoquant data, which accounts for over 81% of their total market value. It is about 1% away from its record high, while the second best executing exchange token Leo remains about 8% away from it.
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.
