BNB Holds Firm Above $950 as Traders Defend Key Support Level During Market Decline

BNB Chain’s native token, BNB, held steady above $950 after dropping 0.6% in 24 hours. The token last traded at $952, showing resilience in the face of wider market volatility; the CoinDesk 20 (CD20) index fell 1.6% in the same period.

After opening at $957.70, BNB dipped to a low of $891.84 before recovering. Buyers stepped in at the $940 support level, an area that had been tested repeatedly during recent price swings according to CoinDesk Research's technical analysis data model.

The recovery suggests traders are selectively accumulating BNB while much of the crypto market remains flat or under pressure.

Trading volume over the past 24 hours stood at $14.06 million, about 86% of the weekly average, pointing to consistent interest without signs of speculative excess.

The price has now cleared the $944 resistance zone, with $950 emerging as a key psychological level for the next leg higher.

Behind the price action are structural factors. Regular quarterly token burns and expanding use within the BNB Chain ecosystem continue to support investor confidence.

About 67% of BNB’s supply is held by public investors, with less than 1% controlled by insiders, reducing the risk of sudden large sell-offs. That’s according to a recent report from Binance co-founder Changpeng Zhao’s family office, YZi Labs.

If momentum holds, there’s potential for upside toward the $1,230–$1,300 range.

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.