BNB, the native token of BNB Chain, traded between $730 and $745 in late October 2026 after briefly touching $750. While investors and analysts monitor whether BNB can surpass its multi-month range’s upper boundary, the latest quarterly token burn has added a fundamental element to the ongoing technical debate.
BNB’s $1.2 billion token burn reduces supply
BNB Chain, a blockchain platform developed by Binance, completed its 37th quarterly auto-burn on October 19. The burn permanently removed 1,646,196.44 BNB tokens, valued at roughly $1.197 billion at that moment, from circulation. Following the burn, the BNB Foundation reported the remaining total supply had decreased to 131,512,085 tokens.
This auto-burn is part of BNB’s broader plan to reduce its total supply to 100 million tokens. The mechanism calculates the burn amount based on factors such as BNB’s current price and block production activity on BNB Smart Chain. Burned tokens are sent to an inaccessible address, making them irretrievable and deflationary by nature.
However, the $1.2 billion figure represents the value of tokens at the time of removal, not cash spent or new purchases. According to CryptoSlate, the October burn removed about 1.9% more tokens compared to July, while the overall dollar value rose by 28.5% due in large part to higher token prices during this round.
While supply reduction supports BNB’s long-term deflationary aim, its influence on price action will depend on demand, trading volumes, and overall market sentiment. Eliminating tokens alone does not indicate new buyers are entering or that BNB will necessarily breach technical resistance levels.
BNB’s deflationary design is reinforced by regular token burns, but the effect on market price still depends on demand and market activity rather than the total dollar value of tokens removed.
$750 resistance emerges as a crucial level
Technical analyst Alex Marzell called the $750 range a “make or break zone” for BNB, highlighting it as a critical point near the top of its multi-month trading range. A consistent move above this area could pave the way for a recovery to previous or even new all-time highs. However, brief spikes are not sufficient—a confirmed breakout requires ongoing buying support.
On October 22, technical analysis pointed out immediate resistance near $752.78 and support around $722.52. The daily relative strength index (RSI) hovered at 45, suggesting BNB’s momentum lags behind strong bullish trends.
If BNB can reclaim and sustain trading above the $750–$753 region, analysts believe a move toward higher resistance levels, and potentially the $850 zone, could follow. Failure to break this resistance, however, could lead to another downward phase.
For BNB’s bullish scenario to play out, traders are watching for a sustained break above the $750 mark, targeting further upside if momentum builds. Immediate support and resistance levels remain key to price direction in the coming days.
| Price Level | Role | Implication |
|---|---|---|
| $750–$753 | Resistance | Breakout could trigger bullish momentum |
| $722.52 | Near-term support | Failure to hold may cause pullback |
| $680–$695 | Demand zone | Potential area for buyer interest |
| $700 | Neckline | Bearish confirmation if breached |
Key demand zones and emerging risks
Analyst TokenTalk3x has identified $680–$695 as a significant demand zone should BNB decline from current levels. Buyers may look to this area for potential entry, but it is not considered a firm price floor at present.
The technical analysis also refers to a Change of Character (CHoCH), which signals possible changes in market structure. If BNB rebounds with clear buying interest in the zone, a move toward the $850 level becomes plausible. However, any drop below this range could expose the token to weaker support and enhance downside risk.
Mini dictionary: Change of Character (CHoCH), a chart analysis term signaling a shift in trend direction or market structure, commonly used by technical analysts to identify reversals or new phases in price movement.
Meanwhile, analysis from TradingView contributor AnhbaCong_ suggests BNB may be developing a head-and-shoulders reversal pattern on the daily chart. The pattern forms with a head near $815, a neckline close to $700, and the right shoulder developing around $745–$750. A confirmed break of the $700 neckline could deepen losses, with $600 being a potential downside target.
BNB price outlook: Technicals drive short-term narrative
BNB’s short-term future depends on how price action interacts with reduced supply at key resistance and support levels. The October burn removed more than 1.64 million tokens, tightening supply, but the market’s reaction remains focused on whether BNB can close above $750 on strong volume.
If BNB manages a confirmed breakout above $750, analysts may shift focus to targets like $850. Conversely, a failure at resistance or a sustained fall below $700 could strengthen bearish signals and lead to further retracement.
For the time being, the $680–$695 zone represents a possible accumulation point, but technical signals are mixed with no definitive trend established. The short-term narrative is likely to depend less on headlines about supply and more on how BNB performs at its key resistance and support thresholds.
