What to know:

• BNB’s price stabilized around $850 after a dip to $840 and a peak at $855.
• Buying interest emerged from the $840-$845 support area.
• The recent rebound has been backed by above-average trading activity, indicating potential shift in market sentiment.
• The token is currently consolidating, with resistance forming between $855 and $857, and maintaining levels above this could pave the way for higher attempts.

The current price is steady at about $850, reflecting a slight reduction after touching $855. Heavy selling pressure previously drove the token’s value towards $840, but support bids strengthened, leading to a rebound that stabilized prices.

This quick defense of support suggests that buyers are ready to re-enter at lower prices. Establishing a consistent base above $850 could signify a shift in market dynamics, where traders may transition from selling to acquiring stocks during dips.

Technical Analysis Overview

BNB successfully tested the demand zone between $840 and $845, followed by a rally encountering resistance at $855-857. A steep increase in traded volume signifies larger investors engaging in the market.

To push higher, holding above $857 is essential, while failing to breach this could see focus shift back towards the $850 support mark and the crucial $840 level.