Binance Coin (BNB) continues to hold above the $650 threshold despite increased market turbulence caused by escalating global trade conflicts.
The cryptocurrency briefly tested resistance at $664 before retreating slightly, yet robust trading volume underscores strong support near $650, according to technical insights from CoinDesk Research.
Heightened trade tensions following new tariffs introduced by President Trump have unsettled broader financial markets, impacting major cryptocurrencies including BNB.
Nonetheless, BNB’s resilience is underpinned by rapid growth in the BNB Smart Chain ecosystem.
Daily transaction volume on the BNB Smart Chain has surged to 14 million, while decentralized exchange (DEX) activity has increased by 50% in the past month.
Over the last 30 days, BNB Chain-powered DEXs have handled more than $150 billion in trading volume, outperforming rival networks such as Ethereum and Solana.
This uptick in on-chain activity reflects a growing user base and stronger fundamentals, even as macroeconomic pressures continue to challenge investor confidence.
For traders, BNB’s steadiness is notable, supported by both market momentum and a thriving ecosystem.
Technical Analysis Overview
BNB showed strength through the weekend but now reveals signs of short-term fatigue after failing to breach resistance at $664.
An upward trend started around 2 PM on June 1, pushing BNB above $650 with trading volumes exceeding 45,000 units. The price approached the $662–$664 resistance zone by 1 AM on June 2 but encountered significant selling pressure.
Subsequently, BNB consolidated within a narrow range between $658.05 and $659.60, briefly spiking to the top of this band around 7:17 AM before pulling back.
Volume peaked twice—at 7:18 AM and 7:51 AM—indicating active yet indecisive market behavior.
Since then, BNB’s price has formed a descending channel marked by lower highs, a classic sign of short-term bearish sentiment.
However, the $658.00 to $658.20 zone has acted as a reliable support, absorbing selling pressure and possibly serving as a springboard for the next move.
While BNB’s long-term prospects hinge on the continued growth of its ecosystem, traders are closely monitoring this descending channel. A breakout above recent highs would invalidate the bearish trend, while a drop below support could confirm it.
