Altcoin

Binance Coin (BNB) Price Update: What’s Happening Today

Published

14 hours ago

March 21, 2025

Bnb price reversal may come sooner than expected but skepticism is still there 1.webp.webp

Binance Coin (BNB) is showing a stable upward trend while broader cryptocurrency markets reflect mixed sentiment. Currently priced at $633, the asset has recorded an 8% increase over the past week. This gain positions BNB as one of the few major tokens trading in the green, contrasting with the downward momentum seen across most digital assets.

Binance Coin (BNB) Price Action Today

At the time of reporting, BNB price is trading at $633.85. Over the past week, it has sustained a steady climb, moving within a well-defined range. This channel, stretching from $620 to $680, has shaped the recent trading structure on the daily chart. The latest upward movement began after a bounce from the lower boundary, pushing the altcoin price closer to the mid-point of the channel.

More so, the price action featured an attempt to breach a local resistance on the hourly chart. Although the breakout failed to hold, attention now shifts to how the daily candle closes. A close above $640 would mark the highest level of the day and may build momentum toward the upper band of the consolidation zone. Otherwise, the altcoin price may retrace to retest intermediate supports.

From a broader technical standpoint, BNB price remains below the critical resistance at $643.72. This level is important for any bullish continuation. A firm break and sustained position above this threshold may allow the altcoin approach targets in the $660–$680 area. Until that occurs, the token will likely stay within its current pattern of lateral movement.

Technical Indicators and Momentum Analysis

The Moving Average Convergence Divergence (MACD) on the daily chart shows increasing bullish strength. The MACD line has moved above the signal line, with the latest readings at 8.28 and 1.89, respectively. The histogram continues to expand in positive territory, reflecting rising buying interest. This alignment suggests that momentum is favoring the bulls, although confirmation through price action remains necessary.

Supporting this, the Awesome Oscillator (AO) shows green bars forming above the zero line, with the current value at 14.08. This development indicates a positive shift in short-term momentum.

Meanwhile, BNB’s 24-hour trading volume has declined by 25.86%, now at $1.72 billion. This drop in activity, despite price appreciation, may indicate a cautious approach by investors. Lower volume during an uptrend can limit breakout strength, keeping the market in a wait-and-see position.

Chart Structures and Market Trends

The 4-hour chart outlines a descending channel, defined by a sequence of lower highs and lower lows. Within this structure, BNB is currently positioned near the central line—marked by a dashed trendline—which acts as a temporary support or resistance depending on price reaction. Maintaining levels above this line may open the door to a retest of the upper boundary near $660.

Projection paths drawn on this timeframe indicate a potential upside if the midline holds. If the price fails to maintain its position, further declines within the channel remain possible. This setup presents a range-bound environment that may require a catalyst for resolution.

Meanwhile, a recent analysis shows that the altcoin is approaching a new all-time high, fueled by strong breakout momentum above a descending channel. The surge in price comes as meme coin trading intensifies on the BNB Chain, with Mubarak leading the charge.