BNB breaks above $1,000 amid broader market rally, but reversal pattern clod outlook
The BNB chain’s native token, BNB, has climbed 1.6% in the past 24 hours, moving from $988 to top the $1,000 mark. The gains came as trading activity picked up, pushing the token above a key psychological level.
The spike in price followed an influx in volume according to Coindesk Research’s technical analysis model analysis data, with 93,800 tokens changing hands in the past 24 hours. This rush pushed BNB past its near-term resistance, with traders leaning towards the move as part of a broader rally in tokens.
A series of higher lows at $977.90, $987.34 and $991.86 confirmed bullish momentum on the breakout amid a broader market rally that saw Coindesk 20 (CD20) index increase 6.12% in the same period.
Prices rose after US President Donald Trump said he plans to direct a tariff Dividend of “at least” $2,000 among the majority of Americans along with a solid movement toward reopening the government.
But the strength did not hold. BNB reversed from resistance near $1,010, forming a descending channel suggesting momentum is fading. At a key moment, a wave of volume selling pushed prices up to $1,003.50.
Short-term resistance is now seen around $1,004, with a psychological floor of $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 help from AI tools and reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see Coindesk’s full AI policy.
