The native token of the BNB Chain, BNB, climbed 1.6% over the past 24 hours, moving from $988 to top the $1,000 mark. The gains came as trading activity surged, pushing the token above a key psychological level.
The spike in price followed a surge in volume according to CoinDesk Research’s technical analysis data model, with 93,800 tokens changing hands in the past 24 hours. This rush pushed BNB past its near-term resistance, with traders leaning into the move as part of a broader rally in exchange tokens.
A series of higher lows at $977.90, $987.34 and $991.86 confirmed bullish momentum into the breakout amid a broader market rally that saw the CoinDesk 20 (CD20) index rise 6.12% in the same period.
Prices rose after U.S. President Donald Trump said he plans on directing a tariff dividend of “at least” $2,000 to most Americans alongside solid movement towards reopening the government.
But the strength didn’t hold. BNB reversed from resistance near $1,010, forming a descending channel that suggests momentum is fading. In one key moment, a wave of selling volume pushed prices down to $1,003.50.
Short-term resistance is now seen around $1,004, with a psychological floor at $1,000. A clean break below could expose downside levels near $991.86 or even $977.90.
Bulls are eyeing a retest of $1,018, with longer-term targets as high as $1,065 if momentum rebuilds.
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.