BNB Swings 4% in 24 Hours, Testing $800 Resistance
Main Idea
BNB experienced a 4% price swing within 24 hours, testing resistance at $800, with significant trading volume and corporate treasury purchases reinforcing its market position.
Key Points
1. BNB's price fluctuated between $793 and $827, a 4% swing, with initial rally peaking at $827 and over 146,000 tokens traded in one hour.
2. Trading remained choppy, with resistance near $800 and support at $794, reinforced by heavy buying during the morning.
3. CEA Industries became the largest corporate holder of BNB after a $160 million purchase, pushing BNB's market cap to nearly $112 billion.
4. Short-term resistance is near $800.50; a breakout could re-test $811.22, while a breakdown below $794 risks further downside toward $780.
5. Volume profile shows key liquidity zones: 146,403 units traded at resistance and 114,685 units at support.
Description
BNB has been seeing turbulence over the last 24-hour period, enduring a 4% swing over the period between the $793 to $827 range, before settling just above the $800 level. The token initially moved to a peak of $827 as the rally started, with more than 146,000 tokens traded in a single hour before sellers stepped in to reserve these gains. Trading remained choppy since, with short-lived recoveries failing to break resistance levels near $800 decisively. Despite the volatility, BNB treasury purch...
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