BNB Price Slips Despite Successful Pasteur Hardfork Upgrade

The price of Binance's native token, BNB, has cooled off despite the successful activation of the Pasteur hardfork mainnet upgrade on Binance Smart Chain (BSC). The upgrade, which aims to increase the number of transactions bundled into each block and improve bridge verification and validator authorization, was implemented on Tuesday.

Despite the upgrade, BNB's price has slipped below $700, after reaching a high of $725 last week. The token is still holding above its key Exponential Moving Averages (EMAs), but momentum indicators are signaling that the uptrend may be overstretched.

The Relative Strength Index (RSI) is hovering above 80, indicating an overbought environment, while the Moving Average Convergence Divergence (MACD) remains in positive territory. Initial support lies at the Parabolic SAR level near $665, with a deeper structural floor provided by the 200-day EMA around $643.