BNB recovered above $970 over the last 24-hour period after briefly falling to $953 during a volatile stretch that saw the token lose as much as 2.3% before it started recovering.
The move comes amid mounting selling pressure driven by both technical breakdowns according to CoinDesk Research's technical analysis data model.
The initial drop, which saw BNB fall from an opening price of $980.18 to an intraday low of $953.31, came on elevated volume and confirmed a breakdown below key support levels.
Despite the bounce, the broader setup for BNB remains cautious. The token is struggling to hold gains near $970, with resistance building near $980. Volume remains subdued compared to the earlier sell-off, suggesting the move higher may lack conviction.
There weren’t significant developments affecting the token other than the crypto market’s turbulence. The broader market, based on the CoinDesk 20 (CD20) index, lost 0.44% of its value over the last 24 hours.
BNB’s ability to stay above $970 could offer short-term support, but traders are watching whether the token can retake the $975–$980 zone.
Without a strong move above those levels, BNB may continue to consolidate or drift lower as the market reacts to weaker exchange activity and reduced liquidity signals.
Disclaimer: Parts of this article were generated with the assistance from 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.
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