BNB, the native token of the BNB chain, which is also used to discount Binance fees, fell 3.3% over the past 24 hours, falling from $1,117 to a low of $1,063 and then stabilized below $1,080.
The selloff erased recent gains and cut into key technical levels, according to technical analysis data models from CoinDesk Research. Trading volume surged 87% above the 24-hour average during the decline.
Bitcoin price changes after sharp fall And mirrored the broader decline in other cryptocurrencies and crypto markets as the market wiped out excess leverage. The broader market, as measured through the CoinDesk 20 (CD20) index, is down 2.74%.
The recession was accelerated by the introduction of algorithmic trading systems, which triggered a wave of sell orders that pushed prices lower. When demand finally increased, BNB found temporary support around $1,070.
The comeback efforts were weak. The price stalled near $1,075, where selling resumed, keeping BNB locked in a narrow range. On short-term charts, momentum indicators have declined but not reversed, and buyers are hesitant to commit without a clear trend.
Whether this level is sustained may determine whether the move was a one-off capitulation or the beginning of a deeper reform. For now, traders are looking at $1,070 as a key support level.
Disclaimer: Parts of this article were generated with the help of 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.