BNB Slips Nearly 4% as Trade War Concerns Overshadow Regulatory Relief
Binance Coin (BNB) experienced a notable decline of almost 4% in the past 24 hours, weighed down by renewed global trade tensions despite a favorable regulatory update for Binance.
The token dropped from $672.53 to a low of $646.27, with selling intensifying during peak trading periods as traders reacted nervously to rising geopolitical uncertainties.
Trade War Fears Take Center Stage
President Trump’s decision to impose new tariffs on steel and aluminum imports from Canada and Mexico reignited fears of an escalating trade war, unsettling global financial markets. This development came just days after the U.S. Securities and Exchange Commission voluntarily dismissed its lengthy lawsuit against Binance and its founder Changpeng Zhao, a move that was expected to bolster investor confidence but has yet to reflect in BNB’s price.
Strong Network Growth Amid Price Pressure
While BNB’s price faltered, the underlying BNB Chain network remained active and vibrant. Binance Smart Chain recorded 1.93 million daily active users, and opBNB surpassed 2 million users. Weekly trading volumes reached $69.75 billion, with total value locked steady at $10.5 billion. Recent launches such as DeFi platform UpTop, options trading service Volare Finance, and stablecoin payment tool WeApe by Wello contributed to ongoing ecosystem expansion. The network also introduced incentives for real-world asset tokenization, deployed an AI Bot, and tested the Maxwell Hardfork for faster block confirmations. Additionally, the BNB AI Hack awarded its latest winners, and the DappBay Featured Activities Series continues to offer substantial rewards exceeding $60,000.
Technical Snapshot
BNB encountered significant resistance near $669.68, with several failed attempts to push higher. Subsequent selling waves saw volume spike to over 81,000 units as the price slipped below the critical $650 support. Despite some stabilization between $646 and $648, the token’s technical outlook remains bearish with lower highs and lows pointing to continued pressure.
- BNB declined 3.91% from $672.53 to $646.27 over 24 hours.
- Peak selling volume hit 100,471 units around 16:00, establishing resistance at $669.68.
- Midnight selling pushed volume to 81,409 units and price beneath $650.
- A tentative support zone formed between $646 and $648.
- Hourly charts reveal higher lows suggesting a possible short-term bounce, though overall downward momentum persists.
With global trade tensions heating up, traders are bracing for increased volatility, weighing the positive regulatory backdrop against a challenging macroeconomic environment that could continue to pressure BNB’s price action.
