crypto.news
$BNB price has surged to a new all-time high fueled by record-breaking user activity and treasury demand, but overbought signals hint that a pullback may be looming.
- $BNB gained 17% in price in a week, reaching $1,194 and becoming one of the top-performing large-cap cryptos.
- Monthly active users on the $BNB Chain recently hit 60 million, with daily active users surpassing 4.3 million and transactions reaching 134 million.
- The RSI at 71.43 signals overbought conditions as $BNB eyes $1,200 resistance breakout.
$BNB price has extended its bullish run, gaining over 17% in the past week and reaching a new high of $1,194 today. This move places the asset among the top-performing large-cap assets so far this month. The surge comes amid the overall strong positive market sentiment that has seen Bitcoin (BTC) soar to a new peak of $125,559 and Ethereum (ETH) cross the $4,600 mark.
The uptrend is also supported by growing activity on the $BNB ($BNB) Chain. Data from Token Terminal reveals that the number of monthly active users on the chain has hit a new all-time high of 60 million. Average daily active users have crossed 4.3 million, total transactions hit 134 million, and trading volume rose to $85.4 billion.
With the network also recently announcing a new minimum gas price of 0.05 Gwei, more developers and traders may join, potentially driving even higher transaction activity.
In addition to user activity, $BNB is drawing interest as a treasury asset. Chinese EV firm Jiuzi Holdings has included $BNB in its $1 billion treasury allocation plan, while Kazakhstan’s Alem Crypto Fund has reportedly made $BNB its first official portfolio asset.
$BNB price nears $1,200 as RSI enters overbought zone
At press time, crypto.news data shows the Binance Coin price trades at $1,192. The most recent candles show small-bodied formations, signaling consolidation just beneath the key psychological barrier at $1,200. This suggests that $BNB may be gathering momentum for the next leg up or preparing for a short-term pullback.
Technical indicators show bullish momentum remains intact, but the RSI at 71.43 points to overbought conditions. While this signals caution, there is no bearish divergence yet, meaning a reversal is not confirmed.
$BNB price trend.">
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.