BNB experienced sharp intraday swings over the past 24 hours, trading between $849.88 and $868.76, a roughly 2% range. The session began with bullish momentum but ended with signs of fatigue as the token approached resistance near $868.

The volatility comes after filings with the U.S. Securities and Exchange Commission by REX Shares last month and the emergence of BNB-focused treasury firms. Notably, B Strategy aims to hold up to $1 billion in BNB, backed by Binance co-founders Changpeng Zhao and Yi He.

Despite the price pullback, network activity on BNB Chain surged, with daily active wallet addresses more than doubling to nearly 2.5 million, according to DeFiLlama data. However, transaction volumes have been trending lower since late June, reflecting declining on-chain activity even amid rising interest in the token.

BNB’s price action also comes ahead of key U.S. economic releases this week, including manufacturing and services surveys and August payroll figures. These reports could influence expectations for a potential Federal Reserve rate cut, with the CME’s FedWatch tool showing nearly a 90% chance of a 25-basis-point cut, and Polymarket traders placing odds at 82%.

Technical Analysis

BNB began the session with a jump from $860.30 to $868.08, but the rally quickly lost steam. Heavy selling emerged in the $867–$868 range, now identified as a key resistance level, according to CoinDesk Research. Volume peaked at 72,000 tokens, well above the session average of 54,000, signaling strong participation during the failed breakout.

Following the rejection, BNB retraced to the $850–$855 range, where buying interest emerged. The dip to $851.40 triggered a volume spike, highlighting solid demand at lower levels and suggesting support for a potential rebound.