BNB reaches large buying zone after retest in 2024

BNB is retesting the key breakout level for 2024 as futures yields fall and user activity grows. Traders are looking at $950-$1,050 if support holds.

So this area has previously held and is coming into play again as traders reassess their short-term positioning.

BNB returns to channel support

BNB is priced at $850 at the time of writing, which represents a slight 24-hour gain of over 1%, although it is down 7% over the week. On the 2-week chart, it has reached the upper limit of a rising channel, a level that shuts down price action for most of 2024 and early 2025. After breaking out and rising above $1,350, the asset has bounced back to test that same trendline again.

“BNB just tapped into a huge level of confluence,” said CryptoPulse.

Notably, the area is aligned with the previous resistance-turned-support and is in the middle of the previous rally range. If buyers intervene here, a push toward $950-$1,050 remains possible. So far, the volume shows no signs of major selling, keeping the structure intact.

On a monthly basis, BNB has returned to a major trendline that has held since 2024. According to for Cryptocium, BNB has not closed a monthly candle below this line with strong downside momentum.

“BNB back to the major bullish trendlinethey noted, adding that the price has been respecting this trend for almost two years. As the November close approaches, traders are watching to see if bulls can defend this zone again.

User activity continues to grow

While the price action has retreated, BNB Chain’s network activity has grown steadily in 2025. Charts shared from TCC show an increasing trend in active addresses. From fewer than a million daily users in early 2025, the chain has maintained levels above 1.5 million since July, occasionally peaking near 3.5 million.

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“BNB Chain is quietly climbingthey posted, pointing to stronger usage despite the recent price drop. The continued rise in network engagement may indicate that underlying demand remains solid.

Additionally, data from YZi Labs shows that more BNB is being stored in-house. Exchange balances drop as users move tokens to private wallets. CryptoPotato reported this shift earlier in November, noting that ownership is becoming more dispersed across the network.

Meanwhile, open interest on BNB futures now stands at $1.34 billion, well below the September high of almost $2.8 billion. The chart shows that both price and open interest have trended lower since that peak, indicating less speculative activity in recent weeks.

While assets have found some footing in the $850-$900 range, interest in futures remains subdued, indicating traders are still waiting for stronger signals.