Binance Coin (BNB) is holding steady above the $650 mark despite rising volatility in global markets sparked by escalating global trade tensions. The cryptocurrency briefly touched $664 before pulling back, but heavy trading volume suggests solid support at $650, according to CoinDesk Research's technical analysis data model. The broader market has been rattled by President Trump's latest round of tariffs , which have added fresh uncertainty to global trade. Major crypto assets, including BNB, have not been immune to the resulting price swings. Still, BNB has shown notable resilience, helped by rapid growth in the BNB Smart Chain ecosystem. Daily transaction counts on BNB Smart Chain have climbed to 14 million , and decentralized exchange (DEX) volume is up 50% over the past month. In total, BNB Chain-based DEXs have processed more than $150 billion in trading volume over the last 30 days, outperforming competitors like Ethereum and Solana. This surge in on-chain activity points to a growing user base and stronger fundamentals, even as macroeconomic stress continues to weigh on investor sentiment. For traders navigating the current environment, BNB’s relative strength stands out, supported not just by market momentum, but by deeper ecosystem engagement. Technical Analysis Highlights BNB continued to show strength over the weekend but is now displaying signs of short-term fatigue after failing to break resistance at $664. A clear uptrend began around 14:00 on June 1, when BNB surged past $650, backed by above-average volume of 45,756 units. The momentum pushed prices toward the $662–$664 zone by 01:00 on June 2, where the rally stalled amid heavy selling pressure. In the hours that followed, BNB entered a tight consolidation range between $658.05 and $659.60. Around 07:17, the token briefly spiked to the upper end of that range before pulling back. Volume peaked at 07:18 and again at 07:51, during both a rejection and a short-lived rally, signaling active but indecisive market behavior. Since that peak, BNB’s price has carved out a descending channel marked by lower highs, a classic pattern that suggests short-term bearish sentiment. Still, the $658.00 to $658.20 zone has emerged as a reliable support base, absorbing selling pressure and providing a possible launchpad for the next move. While the broader outlook for BNB remains tied to the strength of its ecosystem, near-term traders are watching this channel closely. A breakout above recent highs could invalidate the bearish pattern, while a drop below support might confirm it.
