Binance Coin (BNB) dropped nearly 4% over the past 24 hours, rattled by renewed global trade tensions and broad market volatility that overshadowed positive regulatory news.
The token fell from $672.53 to a low of $646.27, with selling accelerating during high-volume trading hours as traders reacted to macroeconomic developments.
News Background
- President Trump’s announcement of new tariffs on Canada and Mexico reignited fears of a trade war, sending shockwaves across financial markets.
- The crypto market wasn’t immune, with BNB underperforming despite the SEC’s voluntary dismissal of its lawsuit against Binance and founder Changpeng Zhao.
- That case, which had alleged Binance facilitated trading of unregistered securities, had hung over the exchange for nearly two years.
- BNB Chain saw an active week with BSC recording 1.93 million daily active users and opBNB surpassing 2 million. Total weekly trading volume hit $69.75B, while TVL stands at $10.5 billion.
- Key projects launched include UpTop (DeFi), Volare Finance (options trading), and WeApe by Wello (stablecoin payments).
- The chain also launched an incentive program for real-world assets, went live with its AI Bot, and activated the Maxwell Hardfork on testnet for faster block times.
- The BNB AI Hack announced winners for its latest batch, and the Featured Activities Series now offers upward of $60,000 in rewards on DappBay.
Price-Action
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Technically, BNB established a high-volume resistance zone around $669.68 after repeated failures to sustain bullish momentum. A second wave of selling hit during the midnight hour, with volume spiking to 81,409 units as prices broke below the $650 support level. Although BNB has managed a modest recovery from its cycle lows, forming potential support between $646-$648, the overall trend remains bearish with lower highs and lower lows.
Technical Analysis Recap
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- BNB fell from $672.53 to $646.27, a 3.91% decline over the 24-hour period.
- Most dramatic selling occurred at 16:00 with volume spiking to 100,471 units, establishing key resistance at $669.68.
- Additional selling pressure hit at midnight, with volume reaching 81,409 units as prices fell below $650.
- A modest support zone formed between $646-$648, though the broader trend remains bearish.
- The hourly chart shows higher lows forming an ascending support trendline, suggesting a short-term bullish attempt that could stall further downside.
As global trade tensions weigh on risk assets, BNB’s resilience will be tested as traders weigh regulatory clarity against macroeconomic headwinds.
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💡 Stay updated with the latest cryptocurrency news and insights by following our website! 🔔 Bookmark this site to get first-hand blockchain and digital currency news!
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Classover Taps $500M Convertible Note Deal to Boost Solana Treasury Strategy
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Here’s what happened in crypto today
💡 Stay updated with the latest cryptocurrency news and insights by following our website! 🔔 Bookmark this site to get first-hand blockchain and digital currency news!
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Classover Taps $500M Convertible Note Deal to Boost Solana Treasury Strategy
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Here’s what happened in crypto today
💡 Stay updated with the latest cryptocurrency news and insights by following our website! 🔔 Bookmark this site to get first-hand blockchain and digital currency news!