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.
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