BNB Holds $640 Support Amid Geopolitical Turmoil, but Technicals Show Mixed Signals

Binance Coin (BNB) is holding firm above a key support level at $640, displaying resilience in the face of heightened geopolitical tension and a broader market sell-off. The crypto market saw over $700 million in liquidations within 24 hours, according to CoinGlass, following a sharp escalation in the Israel-Iran conflict.

Despite the risk-off sentiment, BNB has managed to contain losses, trading within a tight 1% range even as altcoins broadly retreated. Attempts to breach immediate resistance at $660 were rejected, and BNB is now consolidating within a symmetrical triangle, according to CoinDesk Research’s technical model.

The $640 zone, aligned with the 78.6% Fibonacci retracement level, remains a critical support area. Trading volume patterns suggest active sellers around $655.5, while accumulation appears to be forming near $649, the data model indicates.

Technical indicators paint a conflicted picture:

• MACD has flipped negative, and RSI hovers just below 50, indicating weakening momentum.
• However, a potential golden cross between the 50- and 200-day moving averages is forming, historically a bullish signal.
• The Chaikin Money Flow remains in positive territory, suggesting continued underlying buy-side strength.

Still, sentiment isn’t entirely favorable. Net Taker Volume—a measure of aggressive selling—has fallen to a multi-week low of -$197 million, indicating ongoing pressure from bears.

Fundamentally, Binance Smart Chain is seeing strong growth in perpetual trading volume, but this hasn’t yet translated into renewed demand for BNB itself. Futures open interest remains down over 30% from its December highs, reflecting muted speculative appetite.

While the short-term outlook remains uncertain, BNB’s ability to defend critical support in a risk-averse environment may offer a foundation for potential upside—provided broader sentiment improves and technical confirmation emerges.

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