BNB Price Surges 7% As Binance Names Co-Founder Yi He As Co-CEO Alongside Richard Teng

The BNB price surged 7% over the past 24 hours to trade at $899.91 as of 5:03 a.m. EST, with trading volume rising 15% to $2.1 billion.

That comes as Binance appointed its co-founder, Yi He, as Co-CEO, marking a new stage in the company’s ongoing leadership transition and signaling a broader redistribution of executive responsibilities.

The current change places Yi He alongside CEO Richard Teng, who has been leading the firm’s regulatory and operational direction over the past year. Teng said He “has been an integral part of the executive leadership team since the launch of Binance,” calling the appointment “a natural progression.”

He co-founded Binance in 2017 alongside Changpeng “CZ” Zhao and has well over a decade of experience at the forefront of the crypto industry.

Binance Coin has experienced a notable surge over the last 24 hours, mirroring the broader cryptocurrency market, rising 6% to a market capitalization of $3.24 trillion.

Can the price of BNB continue soaring?

BNB Price Stable As Bulls Defend Key Support

After surging to an all-time high of around $1,377 in early November, the BNB price has since corrected to $899.

That pullback accelerated after Binance Coin lost its footing above the 50-day Simple Moving Average (SMA) ($985), which had previously served as a stable support level.

The decline pushed BNB into a deeper retracement structure, settling into the 0.786 Fibonacci level near $867, an area that aligns closely with the long-term 200-day SMA. The price of BNB trading in this range has allowed bulls to enter a stabilization phase, with BNB currently hovering just above the 200-day SMA ($855).

Following the bulls’ defensive move, the price of Binance Coin is now testing the area just below the 50-day SMA at $985, which serves as the nearest short-term resistance.

Meanwhile, the Relative Strength Index (RSI) has also turned positive, currently sitting around 48 and slowly climbing toward the midline. This shift suggests that buyers are currently gaining momentum. Although not yet in bullish territory, an RSI push above 50 would strengthen the case for a recovery.

BNB/USD Chart Analysis: TradingView

Binance Coin Price Eyes $1,055 If The Recovery Continues

According to the current BNB/USD daily chart structure, BNB is attempting to recover from its corrective downtrend.

If the Binance Coin price can push above the 50-day SMA and break the lower resistance zone around $985–$1,000, the next target is the 0.5 Fibonacci retracement level at $1,055, which is a 17% rise from current levels.

Conversely, if bearish pressure resumes and the price of BNB loses the support of the 200-day SMA, the asset could revisit the $867 support and potentially drop further toward the $728 level, completing a full Fibonacci retracement.