BNB Chain’s native asset, BNB, fell below the closely watched $1,000 level over the last 24-hour period, hitting a $974 low in a move that marked a shift into bearish territory.
The decline came with a surge in trading volume, nearly 88% above its 24-hour average, suggesting large-scale selling according to CoinDesk Research’s technical analysis data model.
The token has been establishing a consistent downward trend after it hit a high of around $1,300 earlier this year. Attempts to rebound failed to push the price back above $1,000, and technical patterns, such as lower highs and a failed double bottom near $975, indicate more potential downside ahead.
Still, some see the long-term picture as more stable. “Short-term volatility doesn’t shape the foundation of BNB’s innovation,” Jake A., an analyst at BNB-linked project AIC, told CoinDesk. “While market sentiment weighs on price action in the near-term, what matters is infrastructure, including the new generation of token launchpads that drive on-chain utility.”
BNB now faces immediate resistance in the $1,000–$1,008 range, while support sits around $972.85, with a psychological floor at $970. If that breaks, analysts are watching $959 as the next potential target.
The decline over the past 24-hour period came amid a broader crypto market drop, with the CoinDesk 20 (CD20) index losing 2.16% of its value 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.
