Surge in trading volume fuels speculation of a push toward $860 resistance
Binance Coin (BNB) is trading near $804.93, marking a 4% swing in the past 24 hours and drawing attention from traders after a surge in volume pushed prices higher from recent support. The move came with a notable spike in activity — over 146,000 tokens exchanged in a single hour during the initial rally, signaling renewed bullish interest.
The latest advance began after BNB rebounded from the $740–$755 green support zone, an area that previously acted as a springboard in late July. This upward momentum followed a sustained breakout from a descending channel pattern observed in June, which is often seen as a reversal indicator in technical analysis.
Above current levels, the red resistance band between $850–$865 remains the key obstacle for bulls. This zone marked the recent swing high before a sharp correction earlier this month. A successful close above it could open the path toward the $900 psychological level, while failure to clear it may trigger another pullback toward $750.
“BNB’s rapid recovery highlights the market’s underlying strength, but the $850 level is a historical supply zone that won’t be easy to break,” said BITX market analyst. “Traders will be watching volume closely for signs of sustained momentum.”
Volume remains a critical factor for confirmation. While BNB’s intraday recovery has been backed by strong participation, analysts caution that a loss of buying pressure near resistance could lead to profit-taking.
In summary, Binance Coin is at a technical crossroads, with $800 serving as the short-term pivot point. The next few sessions will be decisive — either paving the way for a breakout toward $900 or reinforcing the $750 support as the primary defense for bulls.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
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