BNB Trading Volume Doubles to $1.08 Billion Amid Institutional Accumulation
Global economic uncertainties are influencing cryptocurrency markets, with BNB showing strength amid rising trade tensions. Institutional investors are increasing their positions, reflected by a trading volume surge to $1.08 billion.
The BNB Chain ecosystem is enhancing its utility through AI integration and lower gas fees, making it competitive against Solana and Ethereum.
Technical Analysis Highlights
- BNB established an ascending channel with strong support at $657-$658, where buying pressure increased significantly.
- Trading volume reached 151,956 BNB at 07:00, nearly four times the 24-hour average, indicating accumulation.
- Three high-volume hours from 07:00-11:00 culminated in a peak of 251,202 BNB during the final hour.
- A head-and-shoulders pattern was noted just before breaking below the neckline support at $684.
- Heavy trading occurred during specific periods, indicating institutional positioning prior to a price reversal.
- The closing price was $678.07, a 1.7% decline from the hour's high, with increasing selling pressure testing the $677 support level.