Market Watch Update Format
BNB Gains Despite Uncertainty, Traders Watch $674 Level for Breakout Confirmation
Binance’s native token BNB defied broader market jitters on Wednesday, rising 1.75% to $670.91 amid heightened attention on the $674 resistance threshold.
The uptick came alongside a softer-than-expected U.S. inflation print, which sparked gains in risk assets. The S&P 500 and Nasdaq ticked higher, while the CoinDesk 20 index advanced 2.6%. The crypto market’s rally was led by a recovery in bitcoin (trading near $109,800), but BNB’s strength stood out as the token held firm technical support.
Technical Outlook:
- BNB moved within an $8.12 intraday range.
- Volume spiked between 06:00 and 12:00 UTC, surpassing the 24-hour average.
- Buyers defended the $667.50 level, absorbing a brief dip.
- A sustained push above $674 could set the stage for a breakout toward $685.
Traders are watching for follow-through momentum above $674, with many viewing it as a key trigger for short-term price discovery.
