Is BNB Heading to 990?

Key Insights:

• Binance trades above $929 with $990 in focus as traders watch resistance and a small fair value gap.
• BNB Chain revenue surpasses Solana, showing rising user activity and retail return to DeFi and memecoins.
• $3.4B in 24h volume reflects strong demand; traders now watch for breakout above $961 toward key $990 level.

Binance Coin (BNB) is showing strong signs of movement as price approaches the top of its current range. Recent activity in trading volume and network fees is pointing toward a possible breakout, with several key levels coming into focus. As of now, BNB is trading at $937.07, up 3.02% in the last 24 hours.

Binance Holds Above Key Support with Targets in Sight

BNB remains in a range between $820 and $930, with technical levels becoming more important as price nears the top of this zone. Analyst Zen highlighted that if BNB can stay above $929, a move toward $961 is expected and possibly $990, where a daily small fair value gap (FVG) exists. The market is also watching resistance zones at $929, $961, and $990. These levels have been tested before, but if momentum continues, BNB could reach $990 in the short term.

A failure to hold above could push the price back toward the $805-$830 area. This lower zone has shown weakness before and could open a path to the Monthly 20sma near $720. The price behavior around the $930 level may decide if BNB can break out or fall back into its long-standing range.

On-Chain Activity Shows Rising Demand for BNB Chain

Furthermore, recent on-chain data shows BNB Chain generated more revenue than Solana in the last 24 hours. This shift may point to a change in user activity and developer interest. 

According to TheDeFiAngel, “Chains don’t win on fees by accident, they win because users are actually transacting.”

BNB Chain’s increased revenue suggests that real demand is rising. More transactions have resulted in higher fees, which is often seen before major price moves. Retail users are reportedly rotating back into BNB-related DeFi and memecoins. This shift could lead to higher liquidity as more traders look for active markets. Increased usage has often been a signal of early-stage growth before price catches up.

Price Movement May Follow Network Growth

BNB Chain’s recent spike in activity could help push the price out of its current range. Based on CoinMarketCap, the trading volume over the past 24 hours reached over $3.4 billion, showing strong interest in the market. Technical traders and on-chain analysts are now focusing on whether this demand will be enough to drive BNB toward $990.

As usage and fees continue to rise, traders are preparing for a move. The $990 level could act as the next key target, though price must first hold above $929. The coming days may confirm whether this breakout attempt is supported by enough volume and demand.