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BNB Chain’s native token, BNB, held steady above $950 after dropping 0.6% in 24 hours. The token last traded at $952, showing resistance in the face of broader market volatility; the CoinDesk 20 (CD20) index fell 1.6% in the same period.
After opening at $957.70, BNB slipped to a low of $891.84 before recovering. Buyers intervened at the $940 support level, an area that had been tested repeatedly during recent price swings according to CoinDesk Research’s technical analysis data model.
The recovery suggests that traders are selectively hoarding BNB while most of the crypto market remains flat or under pressure.
The volume of trade over the last 24 hours was at $14.06 million, about 86% of the weekly average, which indicates a consistent interest without signs of speculative excesses.
The price has now broken the $944 resistance zone, with $950 emerging as a key psychological level for the next leg higher.
After the price action are structural factors. Regular quarterly token burns and expanding use in the BNB chain ecosystem continue to support investor confidence.
About 67% of the BNB offering is held by public investors, with less than 1% controlled by insiders, reducing the risk of large sudden sales. It is according to a recent report from the family office of Binance co-founder Changpeng Zhao, YZi Labs.
If the momentum holds, there is potential for an upside towards the $1,230-$1,300 range.
Disclaimer: Parts of this article were generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI policy.
