BNB Surges Over 4% to Approach $860 Record High
BNB Performance Overview
- BNB increased over 4% in 24 hours, surpassing $850 and approaching its all-time high of $860.
- Price rose from $813.90, breaking resistance levels at $839.57 and $853.67, before facing selling pressure near $855.
- CEA Industries purchased 200,000 BNB, becoming the largest corporate holder, reflecting a trend of companies acquiring alternative cryptocurrencies.
- Trading volume tripled, indicating potential institutional interest and upward momentum.
- Prices retreated slightly towards the session's end, suggesting possible consolidation.
Technical Analysis
- Strong buying interest established support around $834.40.
- BNB held above $850 for most of the period, signaling continued accumulation.
- A peak in sell orders indicated profit-taking, contributing to a bearish divergence as prices failed to rise above $855.
- The broader crypto market, measured by the CoinDesk 20 index, rose 5.3% during the same period.
- BNB maintains dominance in the exchange token sector, comprising over 81% of total market capitalization.