BNB is now trading right on top of a level that used to be a major breakout point back in 2024. After pulling back from its recent high, the coin is testing an old resistance level that has now turned into support.
Here’s the quick rundown:
- BNB has pulled back to the upper line of an ascending channel that guided its run through 2024 and early 2025.
- Daily active users on BNB Chain have been rising all year, moving from under 1 million to peaks close to 3.5 million.
- Futures open interest has dropped since the highs in September, showing that traders are waiting for a clearer signal.
- And yes—BNB did fall over the past week.
Recently, BNB climbed all the way up to the upper boundary of its long-term channel, a level that repeatedly held it back in 2024 and early 2025. After finally breaking through and reaching new highs, the price has now slid back to retest that same trendline.
What’s interesting is that this zone matches perfectly with the old resistance that has now turned into support. It sits right in the middle of the range from the previous rally. Trading volume also doesn’t show any signs of panic selling, which suggests the market isn’t rushing to dump.
Looking at the monthly chart, BNB is now touching a major trendline that has stayed strong since 2024. According to market watcher Cryptocium, BNB hasn’t closed a monthly candle below this level with real downside pressure. With the month ending soon, a lot of traders are keeping an eye on whether this support continues to hold.
Meanwhile, activity on BNB Chain keeps growing. This year, the network passed TRON to become the busiest chain for stablecoin transactions. Rising DEX trading and Binance’s incentive programs helped push the numbers even higher.
Charts shared by TCC show a clear upward trend in active addresses. Early in 2025, the network had fewer than 1 million daily users. Since July, it has been steady above 1.5 million, with some days reaching close to 3.5 million. As TCC put it, “BNB Chain is quietly climbing,” showing stronger network usage even while the price has cooled off.
On-chain data from YZi Labs also shows that more BNB is being moved into self-custody. Exchange balances continue to fall as holders transfer their coins to private wallets.
Futures open interest has also dipped below the September peak. Both price and open interest have been sliding since then, which tells us that speculative activity has cooled. Traders seem to be waiting for something stronger—either a breakout or a breakdown—before making big moves again.
