BNB's price is exhibiting a confident rise, reaching new all-time highs amid increased trading volume and institutional purchases.
BNB Price Analysis
Today, BNB's price hit a new all-time high of $804.17, before slightly retreating to $799.65, which is 0.58% below the record. Over the last 24 hours, BNB fluctuated between $750.56 and $800.50, indicating strong bullish sentiment near resistance. Technical analysis shows a clear uptrend, supported by a bounce off the breakout level of $751.95, which now acts as solid support. The price remains firmly above the 20-period EMA, and buyers are pushing candles to the upper Bollinger Band. The RSI stabilizes around 69, suggesting that BNB is not yet overbought.
Reasons for BNB's Rise
A key factor behind the current rise of BNB is the $90 million acquisition by Nano Labs, which purchased BNB at an average price of $707. Additionally, BNB Chain processed over $14 billion in daily DEX volume, surpassing both Ethereum and Solana. The nearest resistance levels are $820.63 and $860.22. If BNB manages to close above $804, bullish traders may attempt to push the price toward the psychological level of $850 in the short term. On the downside, the key support level remains at $750; a break below that could expose BNB to deeper support around $734.28.
FAQs
Why is BNB price rising so sharply now? A mix of institutional buying, ATH breakout attempts, and strong BNB Chain usage is driving the rally.
Is BNB still a good buy after nearing ATH? While near-term pullbacks are possible, strong fundamentals suggest continued upside over time.
What level should traders watch next? Key resistance lies at $804 (ATH), with upside potential toward $850, and support sitting at $750.
The current situation in the BNB market indicates a strong interest from traders and institutional investors, potentially leading to continued growth in the future.
