BNB Chain Price Slides 1.8% After CZ Warns Of X Account Hack, Fake Rewards

The BNB price slid 1.8% in the past 24 hours to trade at $1009.46 as of 3:17 a.m. EST after its official X account was compromised

That prompted an urgent alert from Binance co-founder Changpeng “CZ” Zhao.

“Please do not click on any links recently posted from this account,” Zhao wrote. “The teams are investigating and will share updates as soon as possible.”

BNB Chain Token Price Slides 1.8% After CZ Warns Of X Account Hack, Fake Rewards

The unauthorized link invited users to vote on an “upcoming BSC rewards date,” falsely promising early BSC rewards to those who participated within the first 24 hours.

The fraudulent link appeared shortly after Zhao said the account belonging to BNB Chain “may have been compromised.”

An unidentified party also hacked the English X account.

“Currently, the English official Twitter account of BNBCHAIN has been hacked,” wrote the Chinese language account. ”We are urgently working on a fix. Please do not click on any links!” 

Some users under CZ’s comments section are already asking if there will be compensation or support for victims who have accidentally connected their wallets.

However, the BNB team subsequently announced that they had regained full control over the account.

The BNB price took a plunge even as the crypto market capitalization returned to $4 trillion. Can the price of the Binance Coin recover?

BNB Price Uptrend Gains Momentum Despite The Slight Correction

The BNB price shows a strong continuation of bullish momentum, with the market steadily climbing above key technical levels.

Over the past few months, the Binance Coin on the daily chart has formed an Elliott Wave pattern, now appearing to be in the midst of its fifth impulsive wave.

After consolidating earlier in the year, the price of BNB broke out of a long period of sideways movement in June and entered a sustained uptrend. Each corrective pullback since then has respected key Fibonacci retracement levels, indicating that buyers remain firmly in control of the market direction.

Currently, BNB is trading around $1,009, holding above both the 50-day and 200-day Simple Moving Averages (SMAs).

Binance Coin price also appears to be moving within a rising channel, with each higher high and higher low reinforcing the ongoing trend.

The Fibonacci retracement levels further support the structure, with the 0.382 level at $912 acting as a notable support zone. From a chart pattern perspective, the continuation of impulsive waves points toward a sustained climb unless sellers force a reversal at major resistance levels.

BNB/USD Chart Analysis Source: GeckoTerminal
BNB/USD Chart Analysis Source: GeckoTerminal

Binance Coin Indicators Signal Room For Growth Despite Resistance

Examining the major indicators, the Relative Strength Index (RSI) currently stands at 59, positioning the Binance Coin in a neutral-to-bullish zone. Importantly, the RSI is not yet overbought, leaving room for additional upward movement before momentum risks becoming overheated.

Looking forward, the Elliott Wave count projects that the current fifth wave could target the $1,080 level, with potential extensions reaching as high as $1,352, which aligns with the -0.618 Fibonacci extension.

If momentum continues and volume supports the breakout, BNB could rally 33% from the current level. However, a failure to hold above the $912–$976 support band may trigger a deeper pullback toward the $860–$808 region.

However, Altcoin Serpa on X asserts that the Binance Coin “has been the strongest major to recover so far from the recent crypto dump,” adding that another rally later in the year is possible.

Analyst Ali Martinez also affirmed that the BNB token “still has many legs up.”

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