BNB has continued its bullish momentum, surging over 17% in the past week to hit a new high of $1,194 today. This performance positions the coin among the top-performing large-cap cryptocurrencies for the month, buoyed by a broader positive market trend that has seen Bitcoin reach $125,559 and Ethereum surpass $4,600.
The rally is further supported by growing activity on the BNB Chain. According to Token Terminal, monthly active users on the network have reached an all-time high of 60 million, with average daily users surpassing 4.3 million. Total transactions hit 134 million, while trading volume climbed to $85.4 billion. Recent network updates, including a minimum gas price of 0.05 Gwei, may attract more developers and traders, potentially boosting transaction activity even further.
BNB is also gaining traction as a treasury asset. Chinese EV manufacturer Jiuzi Holdings has added BNB to its $1 billion treasury allocation, and Kazakhstan’s Alem Crypto Fund has reportedly made BNB its first official portfolio holding.
Price Nears Key Resistance as RSI Flags Caution
At press time, Binance Coin trades around $1,192. Recent candlestick patterns indicate consolidation just below the $1,200 psychological level, suggesting BNB could either be preparing for another upward leg or a short-term pullback.
Technical indicators remain bullish, but the Relative Strength Index (RSI) has climbed to 71.43, signaling overbought conditions. While this calls for caution, no bearish divergence has appeared yet, meaning a reversal is not confirmed.
Support now lies at $1,100, while stronger buying interest may emerge at $1,050 if a pullback occurs. A daily close above $1,200 could see the BNB price push toward $1,250 and potentially retest all-time highs, provided market momentum holds.
