BNB Drops 1.7% as Geopolitical Unrest and Fed Meeting Keep Crypto Traders on Edge
BNB, the native token of BNB Chain, fell 1.7% over the past 24 hours amid mounting geopolitical tension and investor caution ahead of a pivotal Federal Open Market Committee (FOMC) meeting.
The slide follows escalating conflict between Israel and Iran, heightened further as U.S. President Donald Trump summoned the National Security Council for urgent discussions in the situation room.
BNB fluctuated between $659 and $646 throughout the session, with $647 now acting as a key support level. As of the latest data, the token was consolidating just below that mark, suggesting lingering bearish sentiment, according to CoinDesk Research’s technical analysis.
Despite the downturn, BNB Chain remains fundamentally strong, recording over $100 billion in decentralized exchange (DEX) volume over the past month and more than $10 billion in the last 24 hours, DeFiLlama data shows.
Investors are also keeping an eye on VanEck’s BNB ETF proposal, filed in May, which could unlock new institutional inflows if approved.
Technical Highlights:
- Support at $647 under pressure, with trading volume spiking to 82,311 tokens, nearly triple the 24-hour average.
- Resistance set between $658 and $659 after multiple failed breakouts.
- Intraday resistance noted at $655.70–$655.80 after price pulled back from highs.
- BNB consolidating below resistance, maintaining a cautious outlook for now.
