BNB experienced a notable rally, reaching a local high of $778 before facing a swift sell-off, which reduced its recent gains. The cryptocurrency is now trading around $776, showing a slight increase of approximately 1.3% over the last 24 hours. This volatility occurred against the backdrop of a $500 million private placement by CEA Industries, contributing to increased trading volume. Despite the fluctuations, BNB's performance remains relatively stable, being down only 8.7% from its all-time high, unlike many other exchange tokens that have seen declines of 35% to 60%. The token displayed solid support around the $765-$766 range, indicating potential institutional buying interest. Increased selling pressure at the $780 level historically leads to reversals, confirming the need for caution among traders, while trading sentiment remains sensitive to broader market dynamics.

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