BNB (Binance Coin) is a digital asset launched by the world-famous cryptocurrency exchange Binance in 2017.
Initially developed as an ERC-20 token on the Ethereum blockchain, BNB later began trading on Binance's own blockchain, Binance Chain, and later BNB Smart Chain (formerly Binance Smart Chain).
BNB was initially created to pay transaction fees on the Binance platform and offer various benefits to its users. However, over time, with the growth of the Binance ecosystem, BNB's usage areas have expanded and it has begun to be used as a multifunctional token.
There has been a notable increase in the BNB price in recent days. Strong buying reactions, especially at the $600 level, helped the price recover quickly. Currently trading at $653, BNB is attracting investors' attention again.
When short-term analysis is examined, it seems likely that some profit taking and liquidation sales will occur at $653. This could lead to the price falling to $630 levels. However, the $630 level plays an important role as a strong support point. A close below this level indicates that a downtrend may begin, and investors will need to monitor this situation carefully.
Looking at long-term expectations, the $675 level is a critical resistance point for BNB. If a permanent move occurs above this level, a new peak (Higher High – HH) can be expected. In addition, this move could carry BNB to all-time highs (ATH), which could present a major bullish opportunity for investors. Therefore, BNB’s performance in the upcoming period seems to be quite decisive in terms of short- and long-term expectations.