The BNB, the native token of the BNB channel, fell 1.7% in the last 24 -hour period, shaken by a growing uneasiness of the market while the conflict between Israel and Iran degenerates and after the President Donald Trump called on the National Security Council to prepare in the situation room.
BNB switched between $ 659 and $ 646 during the day, marking a tight but important negotiation range. The level of $ 647 has become a support line for the token, which now hangs below, according to the technical analysis data of Coindesk Research.
Despite turbulence, the fundamentals of the BNB chain remain strong.
He has treated more than $ 100 billion in decentralized exchange volume (DEX) in the last month, and more than $ 10 billion in the past 24 hours, according to Defilma.
Investors are now considering the meeting of the Federal Open Market Committee on Wednesday (FOMC) for the indices. All signals on interest rates could influence liquidity, especially in risky assets such as crypto.
Vaneck’s BNB ETF application is also persistent, which was deposited in May. If it is approved, it could open the door to greater institutional participation.
Preview of technical analysis
- A strong support was formed at $ 647, supported by an overvoltage in volume at 82,311 tokens, almost triple of the average 24 hours a day, according to the technical analysis data of Coindesk Research.
- The resistance is rooted between $ 658 and $ 659, an area where the price was rejected twice in the middle of an increase in volume.
- The hourly graphics reveal a push at $ 655, followed by a slight withdrawal at $ 652. This identifies a local resistance at $ 655.70 at $ 655.80.
- The sales pressure has intensified during the drops. The BNB is currently consolidated below the resistance with a downward tilt, and further comes if the feeling remains weak.
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