BNB Maintains Levels Near $660 as Investors Gauge Breakout Potential

BNB Trades Sideways Near $660 Amid Consolidation and Institutional Interest

BNB, the native asset of BNB Chain, has been trading steadily around $660, confined to a narrow range of less than 1% over the past 24 hours. This sideways movement reflects a period of consolidation, as technical indicators highlight solid support near $659.45 and resistance at $664.38.

At press time, BNB is priced at $659.61, down just 0.5% for the day. Traders are closely watching the $664.38 level as a potential trigger point for a breakout if broader macroeconomic pressures begin to ease, according to analysis from CoinDesk Research.

Meanwhile, on-chain data shows mixed sentiment in the market. Funding rates in the perpetual futures space have dipped lower, signaling that traders are taking a more cautious stance and opting to hedge positions instead of chasing Bitcoin’s recent rally above $109,000.

Despite this caution, corporate adoption of BNB continues to gain momentum. Nasdaq-listed chip manufacturer Nano Labs recently acquired approximately $50 million worth of BNB as part of its strategy to potentially hold up to 10% of the token’s global circulating supply.