BNB Surges 5% Amid Resistance Retest and Increased DEX Volume
BNB has experienced a 5% increase in the last 24 hours, retesting key resistance levels and showing potential for new highs.
Key Developments
- BNB is among top-performing tokens, attempting to break its downtrend.
- The token has retraced about 20% from its all-time high of $793 on December 5, 2024.
- After touching $510 last week, BNB bounced back, recovering 18% and reaching a monthly high.
- It attempted to reclaim the $600 level but failed to maintain it over the weekend.
- Currently, BNB is targeting a three-month descending resistance line around $650.
- A breakout above $620 indicates potential for further upside, according to analysts.
BNB Chain Performance
- BNB Chain surpassed Solana’s DEX volume with $1.64 billion in trading within 24 hours.
- This surge is attributed to recent memecoin activity, including tokens like Mubarak (MUBARAK).
- Solana’s network is experiencing bearish sentiment due to recent token performances.
As of now, BNB trades at $627, reflecting a 4.18% daily increase.
