Amid the rally in the cryptocurrency market, the price of BNB has risen by more than 1.7% in the past 24 hours, while the CoinDesk 20 (CD20) index has gained 2.2% in the same period.
The price broke the $860 resistance that capped recent gains and briefly touched $868 before a minor pullback.
BNB’s performance lagged the broader cryptocurrency market as the Financial Times published an investigation saying Binance “failed to prevent hundreds of millions of dollars in cryptocurrency from flowing through suspicious accounts.” The company said the failures occurred even after agreeing to pay $4.3 billion to settle a U.S. criminal case.
According to CoinDesk Research’s technical analysis data model, trading volume is up 192% from the daily average, with several spikes occurring as the price approaches support.
Three separate volume bursts confirmed the momentum behind this move and helped establish new support near $856 to $858.
The hourly chart shows a V-shaped recovery after falling to $851 in early trading, with buyers actively stepping in to push the price back above $863. From there, an ascending triangle formed between $864.00 and $865.80, a pattern typically associated with bullish continuations.
BNB remains 32% below its all-time high of $1,360. Other exchange tokens KCS and LEO fell well below their all-time highs, showing resilient performance according to CryptoQuant data.
Disclaimer: Portions of this article were generated with the help of artificial intelligence tools and reviewed by our editorial team for accuracy and adherence to our standards. For more information, see CoinDesk’s full AI policy.