BNB has continued its upward trend, trading at $818, rising 1% in the last 24 hours and 8% over the past week. The token has experienced an 18% rally over the last month, hovering between $747 and $825. The market depth shows solid buy-side interest above $800, while spot volume and derivatives open interest have both increased, suggesting traders expect a potential breakout.
BNB continues upward momentum as BNC makes a significant treasury purchase
On August 10, BNB Network Company (Nasdaq: BNC), previously known as CEA Industries, made a landmark purchase of 200,000 BNB tokens, worth $160 million. This acquisition follows a $500 million private placement, supported by YZi Labs and 10X Capital. The capital raised from the sale will help establish BNB as the company’s main reserve asset.
BNC now holds more BNB than any other publicly traded firm and has set a goal to fully allocate its treasury to the token. If existing warrants are exercised, the company could commit up to $1.25 billion. Additionally, the company has appointed Galaxy Digital co-founder David Namdar as its new CEO to direct the BNB corporate strategy.
BNB technical analysis points to continued strength
BNB’s price structure shows sustained upward momentum, with the token trading above every key moving average, from the 200-day SMA at $650 to the 10-day EMA at $791. The upper band around $837 serves as immediate resistance, and the Bollinger Bands are widening, indicating increased volatility.
The relative strength index (RSI) is slightly below the overbought territory at 65.88, suggesting more upside potential before buyers become exhausted. Other momentum indicators, including the 10-day Momentum and MACD, are still in buy territory, supporting the bullish sentiment.
In the short term, a break above $825 could pave the way for a move towards $850–$875. If resistance holds, BNB could retrace toward $790, with stronger support near $750. The combination of favorable technicals and strong fundamentals suggests that BNB’s next decisive move could define its performance for the rest of August.