The native token of the BNB Chain, BNB , slipped below $960 in the last 24 hours, giving up gains after running into resistance just above $970.
The token's price briefly climbed to a high of $970.03 dropping back. Volume jumped sharply during the reversal, suggesting large-scale sell orders triggered a cascade of liquidations, according to CoinDesk Research's technical analysis data model. The price fell to a session low of $942.06 before recovering.
The shift in momentum left the token rangebound, with buyers attempting to stabilize BNB around the $950–$960 zone. The token held near the lower end of its intraday range, signaling continued caution among traders.
“BNB’s break below $970 is not so much about its volatility, but more about a shift in order-flow dynamics,” Alex Boruski, co-founder of BNB-linked project iMe AI, told CoinDesk in an emailed statement. “With liquidity pockets sitting below $950, the path of least resistance remains to the downside.”
BNB is caught between a clear resistance level near $970 and short-term support near $942. Boruski highlighted the formation of a head-and-shoulders pattern on shorter timeframes, a setup often viewed as a sign of potential downside ahead.
Other analysts on social media pointed to similar patterns, conveying short-term bearish pressure affecting the cryptocurrency.
Whether BNB can reclaim ground above $970 or breaks lower toward support levels around $900 may shape its next major move. For now, the decline is in line with the broader crypto market. The CoinDesk 20 (CD20) index fell 1.6% over the period.
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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