- BNB rose 3.7% in 24 hours, reaching $1,105.91 with strong buyer interest near $1,050 support.
- Applied DNA bought 4,908 BNB for $5.3 million, boosting its holdings to over 10,000 BNB.
- Coinbase adds BNB support on BNB Smart Chain, increasing market access for U.S. traders.
BNB is trading at $1,105.91 after gaining 3.7% in the last 24 hours, based on CoinGecko data. The token’s 24-hour range lies between $1,054.16 and $1,121.94. Immediate support has formed near $1,050 while resistance is seen close to $1,120, keeping BNB in a narrow but bullish trading band.
On the 4-hour chart from TradingView, BNB has stayed above the $1,070 support area, which has consistently limited downside moves. The asset is currently trading near $1,115 with a 0.49% gain in the last session. Analysts are observing a possible breakout above $1,120, with short-term projections aiming for $1,150. This would mark a potential 3.6% gain from current prices.
BNB has shown technical resilience by holding above support levels despite overall market fluctuations. Traders are watching for a confirmed breakout from the current flag pattern to assess future direction.
Institutional Activity and Coinbase Support Fuel Confidence
Applied DNA Sciences completed a $58 million private placement and disclosed BNB holdings worth over $17 million. The company acquired 4,908 BNB for $5.3 million and now indirectly holds 10,647 tokens. This investment boosted Applied DNA’s stock by 50% following the announcement.
Chief Investment Officer Patrick Horsman stated the firm adopted a “yield-focused treasury strategy” to gain exposure through both direct and BNB-equivalent positions. Analysts noted that such accumulation from institutions could support BNB’s long-term adoption.
In a related development, Coinbase has announced support for BNB on the BNB Smart Chain network. Trading for the BNB-USD pair will launch once liquidity requirements are met. The exchange also warned users to avoid sending BNB through unsupported networks to prevent fund losses.
Analysts believe Coinbase’s support could increase BNB’s market reach and reinforce its presence among U.S.-based users and institutions.
Consolidation Around $1,000 Could Support Next Move
Analyst Sjuul from AltCryptoGems observed that BNB is forming a flag pattern near the $1,000 level, which may lead to a breakout. The pattern suggests a pause in upward momentum, but continued buying interest supports the view of further gains if the price remains above the key levels.
Sjuul advised traders to monitor price action closely and wait for confirmation before entering new positions. The consolidation is viewed as a possible setup for the next strong move if trading volume increases.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
