The price of BNB is currently hovering around the $850 mark after falling by more than 1.5% in the past 24 hours.
The coin fell from recent highs near $870, while Bitcoin fell from above $90,000 to the $87,000 area on Tuesday morning.
Price action reflects this caution. After briefly breaking above $860 earlier on strong volume, selling pressure returned and capped gains. However, the broader market has also been affected, with the broader CoinDesk 20 (CD20) index losing 2.5% of its value in the past 24 hours.
According to CoinDesk Research’s technical analysis data model, the surge in volume indicates defensive positioning rather than new risk-taking behavior.
As adoption continues to grow, not all signals are negative. Major prediction market Kalshi has increased deposits and withdrawals of BNB and stablecoins on the BNB chain.
Currently, traders are expecting a consolidation range of $850 to $870. A clear break above this range could reignite calls for a move towards $900 later this year, while a break below $820 would suggest further losses.
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.
