BNB stumbles under a rigid level of resistance of $ 654, according to Coindesk Research’s technical analysis model, with price fluctuations driven by an increase in global turmoil following the ongoing war between Israel and Iran.
The token fell back after short breaking over $ 650 and showed signs of stress while the wider market meter. Coindesk 20 -Index remained flat in the last 24 hours of trade. The fall in the BNB prize comes as the crypto market has rattled over Donald Trump’s call to Iran’s “unconditional surrender” after saying that the country’s leader was an “easy target.”
In the prediction market Polymarket, the odds of US military action in the region before the end of the month sprung to 61%. If the timeline is expanded to next month, the odds will rise to 69%.
However, a certain bullish atmosphere remains at the wider crypto market. The US Senate passed StableCOin legislation this week, a sign of growing legislative clarity that some in the industry consider a turning point.
Corporate Bitcoin buy also seems to keep demand even as short-term volatility increases.
Overview of Technical Analysis
BNB is currently consolidating in an unstable interval and showing signs of both accumulation and hesitation among the traders.
- The asset traded within a 24-hour range of 2.53%and climbed from $ 641 to a session high of $ 654 before facing rejection.
- A potential resistance zone has formed nearly $ 653.5, confirmed by repeated errors in breaking higher and an increase in sales of activity and volume around this area.
- A significant level of support emerged at $ 638, marked with today’s highest volume pointing to strong buyer interest.
- The price affected a low level of $ 637 before showing signs of stabilization. Since then, BNB has placed three consecutive higher low low, which suggests a potential double bottom and renewed buying interest.
- Market participants may see if BNB can hold over the $ 640 support line.
- A sustained step higher may require the clearing of resistance to $ 654 with stronger conviction, while a break below $ 637 can trigger a deeper withdrawal.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with Our standards. For more information, see Coindesk’s full AI policy.
