BNB Price Stable As New Lawsuit Accuses Binance of Terrorism Financing

The BNB price has climbed by a fraction of a percentage in the last 24 hours to trade at $865 on a 17% drop in the daily trading volume to $1.92 billion.

This is after families of people killed in the October 7 Hamas attack filed a new lawsuit accusing Binance and former CEO Changpeng Zhao of helping fund terrorism. The lawsuit says Binance allowed over $1 billion in crypto to move to Hamas, Hezbollah, and other groups by weakening its security checks and letting funds move without proper monitoring. Senior executive Guangying “Heina” Chen is also named.

The families’ lawyer, Lee Wolosky, says Binance knowingly allowed hundreds of millions of dollars to reach the people behind the October 7 attack and should be held responsible.

This case follows Binance’s 2023 guilty plea to anti–anti-money-laundering violations and its $4.3 billion penalty. Zhao, who was pardoned by President Trump this year, is still dealing with legal issues linked to the exchange.

Recently, the SEC dropped its civil case against Binance, and the exchange is trying to dismiss a $1.76 billion lawsuit from the FTX bankruptcy estate. The new lawsuit also mentions other cases where crypto has been used for illegal funding. A judge in New York has already ruled that the victims have enough evidence to claim Binance helped the October 7 attackers.

BNB Price Holds Key Support at 200-Day SMA as Bulls Eye Potential Rebound

BNB is currently trading around $866 after a steady pullback from its recent high near $1,375. The price has now dropped into a key support zone, sitting right above the 200-day Simple Moving Average (SMA). This level is important because it has acted as a strong support in the past, and it also matches the area where a double-bottom pattern formed earlier in the year.

The recent correction from the yearly high around $1,375 has brought BNB down nearly to its reward area, where buyers previously stepped in aggressively. This makes the current price region an important decision point. If bulls can defend the 200-day SMA and maintain price above the highlighted support band, the market could see renewed upside momentum.

BNBUSDT Analysis Source: Tradingview

As a result, the current zone is a pivotal decision point for BNB. If buyers protect this support, the price could bounce back and start moving higher again. The first level to watch on the upside is the 50-day SMA near $1,034. If BNB breaks above this line, it would show that momentum is improving and could lead to a push toward the major resistance at $1,375 — the level where the last rally failed.

The RSI is currently around 36, which is close to the oversold area. This suggests that selling pressure may be slowing down and that a reversal could be coming if demand increases.

On the downside, if BNB loses the 200-day SMA and the support zone, the price could fall further toward the $600 area. That would cancel the bullish setup and put the market in a weaker position.

For now, BNB is at a critical support level. Holding above the 200-day SMA keeps the chance of a strong rebound alive, while a break below it could send the price lower.